The first personal loan for a Hong Kong resident in Mainland China, with credit data verification via blockchain technology, has been issued in Shenzhen.

ChainCatcher news, consumer loans for Hong Kong residents in mainland China, based on the Shenzhen-Hong Kong cross-border data verification platform, were recently issued in Shenzhen. This pilot project innovatively applies blockchain technology to efficiently verify the credit data of Hong Kong residents with full authorization from the information subjects, effectively solving the cross-border financing difficulties caused by the lack of mainland credit records for Hong Kong residents. Three young Hong Kong professionals working in Shenzhen became the first beneficiaries.