Core Viewpoint - The China Securities Regulatory Commission (CSRC) announced that six institutions have completed the filing for cross-border asset management pilot business in Hainan Free Trade Port, marking the first batch of pilot institutions since the implementation guidelines were released [1]. Group 1: Institutions Involved - The six institutions that have been approved include four issuing institutions: Jinyuan Securities Co., Ltd., Wanhua Securities Co., Ltd., Huibaichuan Fund Management Co., Ltd., and Peng'an Fund Management Co., Ltd. Additionally, two sales institutions are involved: Industrial Bank Co., Ltd. Haikou Branch and Shanghai Pudong Development Bank Co., Ltd. Haikou Branch [1]. Group 2: Regulatory Framework - The implementation guidelines for the cross-border asset management pilot business were jointly issued by several regulatory bodies, including the People's Bank of China Hainan Branch, the National Financial Supervision Administration Hainan Regulatory Bureau, the CSRC Hainan Regulatory Bureau, the Hainan Provincial Local Financial Management Bureau, and the State Administration of Foreign Exchange Hainan Branch on July 21 [1]. Group 3: Investment Opportunities - The guidelines support foreign investors in investing in financial products issued by financial institutions within the Hainan Free Trade Port, including wealth management products, private asset management products from securities and futures institutions, public securities investment funds, and insurance asset management products [1].

Core Viewpoint - The implementation of the "Implementation Rules for Cross-Border Asset Management Pilot Business in Hainan Free Trade Port" aims to facilitate foreign investors' access to financial products issued by financial institutions in Hainan, enhancing investment opportunities and flexibility in asset management [1][2]. Summary by Relevant Sections Implementation Details - The rules focus on supporting foreign investors in investing in asset management products issued by financial institutions in Hainan Free Trade Port, detailing eligible investors, investment products, account types, and fund flow [1]. - The pilot program is open to global foreign institutions and qualified foreign individual investors, promoting a diversified investment base [1]. - The range of investment products includes private asset management products, publicly raised securities investment funds, and insurance asset management products with risk levels from R1 to R4 [1]. Investment Accounts - Foreign investors can open RMB bank settlement accounts and free trade accounts in Hainan, allowing them to purchase pilot asset management products, with an encouragement for transactions to be denominated and settled in RMB [1]. Investment Scale - The initial pilot program sets a net inflow limit of 10 billion RMB for foreign investors purchasing pilot asset management products, with the potential for dynamic adjustments based on economic and financial developments in Hainan and market demand [1]. Expert Insights - The pilot opens a new channel for foreign investors to invest in Chinese financial products, enriching their options for RMB asset allocation [2]. - For domestic asset management institutions, the pilot can expand their client base and business growth opportunities [2].