海南自贸港今日正式封关！央行：金融准备工作已全部完成！

Core Viewpoint - Hainan Free Trade Port is set to officially launch its full island closure operations on December 18, 2025, marking a significant milestone in its financial policy and institutional framework development since the release of the overall plan in 2020 [1] Group 1: Financial Policy and Institutional Framework - The financial policy system in Hainan Free Trade Port has been initially established, positioning it as a national leader in financial openness and innovation [1] - The People's Bank of China has been continuously improving financial policies and institutional frameworks suitable for Hainan Free Trade Port, with all preparations for the closure operation completed [1] Group 2: Cross-Border Financial Innovations - Hainan has aimed for "free and convenient cross-border capital flow," implementing several financial innovation policies, including the establishment of the multi-functional EF account system [1] - From January to November 2025, Hainan's cross-border payment and receipt scale reached $101.61 billion, with an average annual growth rate of 55% since 2020 [1] - The cross-border RMB settlement scale reached 484.5 billion yuan from January to November, reflecting a year-on-year increase of 7.8% [1] Group 3: EF Account Development - The EF account officially launched on May 6, 2024, with 11 banks in Hainan having adopted it by the end of October 2025, facilitating transactions amounting to 268.9 billion yuan [2] - The EF account allows for convenient "cross-line" and "cross-border" fund transfers, enabling businesses to conduct capital transactions without the usual foreign exchange management restrictions [2] - By the end of October 2025, over 650 EF accounts had been opened in Hainan, with transactions occurring with 80 countries and regions, covering various business scenarios [3] Group 4: Economic Impact - By the end of 2024, Hainan's foreign-related income and expenditure scale reached $108.63 billion, which is 2.9 times that of the end of 2021 [3] - The number of enterprises involved in foreign exchange income and expenditure in Hainan approached 10,000 by the end of October 2025, reflecting a 1.4 times increase compared to the end of 2021 [3]