海南，明日正式封关！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 operation on December 18, 2025, marking a significant milestone in its development [1]. Financial Policy and System Development - Since the release of the "Overall Plan for Hainan Free Trade Port Construction" in 2020, a preliminary financial policy system has been established, positioning Hainan as a leader in financial openness and innovation in China [2]. - The People's Bank of China has been continuously improving financial policies and systems compatible with Hainan Free Trade Port, completing all preparations for the financial operations required for the closure [2]. Cross-Border Capital Flow - Hainan aims to achieve "free and convenient cross-border capital flow," with the establishment of the multi-functional free trade account (EF Account) system facilitating high-level cross-border capital movement [2]. - 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 [2]. - The cross-border RMB settlement scale reached 484.5 billion yuan during the same period, reflecting a year-on-year increase of 7.8% [2]. EF Account Implementation - The EF Account officially launched on May 6, 2024, with 11 banks in Hainan having adopted the system by the end of October 2025, facilitating transactions amounting to 268.9 billion yuan [3]. - The EF Account allows for convenient cross-border fund transfers and provides significant regulatory advantages for enterprises engaging in capital transactions with foreign accounts [3]. - As of October 2025, over 650 EF Accounts have been opened, with transactions occurring with 80 countries and regions, covering various business scenarios such as foreign exchange settlement and cross-border trade [4]. Growth in Foreign Trade and Investment - By the end of 2024, Hainan's foreign-related income and expenditure scale is projected to reach $108.63 billion, which is 2.9 times that of the end of 2021 [4]. - The number of enterprises involved in foreign trade and foreign exchange transactions in Hainan has increased to nearly 10,000 by October 2025, reflecting a 1.4 times growth since the end of 2021 [4].