(经济观察)四度赴港发债 琼港合作助推海南自贸港金融创新开放

Core Viewpoint - Hainan Province successfully issued 5 billion RMB offshore local government bonds in Hong Kong, marking the fourth issuance since 2022, which reflects the proactive alignment of Hainan Free Trade Port with international trade rules and aims to attract international capital for key industry development [1][2]. Group 1: Bond Issuance Details - The bond issuance has maturities of 3, 5, and 10 years, with funds primarily allocated to marine protection, livelihood security, and aerospace-related key research and infrastructure projects, including China's first local government bond themed on aerospace [1]. - The issuance attracted participation from commercial banks, funds, brokerages, and asset management companies across Europe and Asia, with peak orders reaching nearly 23 billion RMB, indicating strong international market confidence in Hainan's credit strength and development prospects [1]. Group 2: Financial Innovation and Cross-Border Transactions - Hainan will continue to utilize the multi-functional free trade account (EF account) for bond fund settlement, which has significantly improved cross-border capital flow since its launch in May 2024, with over 330 EF accounts opened by 10 pilot banks and a transaction volume exceeding 120 billion RMB [2]. - The design of the Hainan Free Trade Port emphasizes the facilitation of cross-border capital flow, aiming to expand financial openness and accelerate financial reform and innovation [2]. Group 3: Strengthening Hainan-Hong Kong Financial Cooperation - The financial cooperation between Hainan and Hong Kong has been deepening, with a memorandum signed in March 2023 focusing on finance as one of the five key areas for collaboration [3]. - The upcoming full island closure operation of Hainan Free Trade Port on December 18, 2023, is expected to create significant opportunities in institutional innovation and cross-border finance, attracting increased international investor interest [3].