Mei Ri Jing Ji Xin Wen·2025-10-17 06:21Core Points - The Hainan Securities Regulatory Bureau announced the first batch of institutions participating in the cross-border asset management pilot program in Hainan Free Trade Port, which includes 2 securities companies, 2 fund companies, and 2 bank sales institutions [1] - The pilot program marks a significant step towards the operational phase of cross-border asset management in Hainan, with the selected institutions having completed necessary preparations [1][2] - The implementation details specify that foreign investors can use funds from both domestic and foreign sources to purchase pilot asset management products, with specific requirements for domestic funds [3][4] Group 1: Institutions Involved - The selected institutions include Jinyuan Securities, Wanhua Securities, Huibaichuan Fund, Peng'an Fund, Industrial Bank Haikou Branch, and SPD Bank Haikou Branch [1] - Jinyuan Securities and Wanhua Securities are classified as "issuing institutions," while the two banks are classified as "sales institutions" [1] Group 2: Implementation Details - The pilot program allows for a total scale limit of 10 billion RMB for cross-border asset management products, with net inflow limits for foreign investors [4] - The asset management products available for foreign investors will be denominated in RMB and include various risk-rated public and private funds [4] Group 3: Institutional Responses - Jinyuan Securities has established a dedicated task force to comply with the new regulations and has quickly submitted its application for pilot qualifications [2] - Peng'an Fund, as the first state-controlled public fund in Hainan, has also mobilized its resources to apply for pilot qualifications in line with national financial opening policies [2][3]