Core Insights - The implementation of the EF account has significantly expedited cross-border payments, reducing transaction time from three days to just a few minutes [1][2] - The cross-border financial policy innovations in Hainan Free Trade Port have been driven by a dedicated team of professionals from central financial regulatory bodies, resulting in substantial progress in cross-border fund flow policies [2][4] Group 1: Cross-Border Financial Innovations - The establishment of the EF account and cross-border asset management pilot has been a key achievement, with 547 EF accounts opened and a total business volume equivalent to RMB 1970.48 billion as of August [2][3] - The cross-border fund concentration operation center (CTC) is being developed as a crucial platform for financial policy implementation, with four enterprises recognized and a total registered capital of 2.2 billion [3] - The offshore RMB bond issuance has reached a cumulative scale of 20.3 billion, providing diverse financing channels for the Hainan Free Trade Port [3] Group 2: Trade and Investment Facilitation - The high-level opening and facilitation policies for cross-border trade and investment have been expanded from Yangpu Economic Development Zone to the entire Hainan Province, with a total of USD 42.6 billion in pilot business transactions benefiting 268 quality enterprises [4] - Continuous evaluation and adjustment of policies are emphasized to ensure effective implementation and responsiveness to market needs, with nearly 100 enterprise visits conducted to gather feedback [4][5] - The commitment to ongoing support for Hainan's Free Trade Port development remains strong, with expectations for sustained financial innovation to enhance business convenience [5]

Group 1 - The core viewpoint of the news is the announcement of Hainan Province's three-year action plan (2025-2027) to accelerate the construction of a modern industrial system with distinctive advantages, focusing on enhancing the financial service system and promoting various sectors such as manufacturing and tourism [1][2] Group 2 - The action plan emphasizes the need to improve the financial service system to match the modern industrial system, encouraging an increase in manufacturing loan ratios and the development of multi-level capital markets and industrial insurance [1][2] - It outlines the goal of expanding the EF account pilot program to enhance cross-border capital flow convenience and aims to establish a cross-border asset management policy pilot [1] - By 2027, the asset management amount in the Sanya Central Business District is expected to approach 600 billion yuan [1] Group 3 - The action plan aims to optimize the duty-free shopping policy and expand the list of goods available for immediate purchase and collection, targeting the return of overseas consumption [1][2] - It sets a target of attracting over 150 million medical tourists by 2027 and aims to introduce at least 40 international innovative drugs and medical devices annually [1][2] Group 4 - The overall goal is for the four leading industries to account for approximately 70% of GDP by 2027, with a focus on high-quality economic development [2] - The plan aims for the modern service industry’s added value to reach nearly 30% of GDP, with a strong emphasis on the integration of productive services and advanced manufacturing [2] - It targets an R&D expenditure intensity of 1.8% and aims for high-tech industry added value to exceed 17% of GDP by 2027 [2] - The agricultural sector is expected to achieve an annual growth rate of over 5% in the added value of its entire industry chain [2]