Core Points - The article highlights the significant progress and upcoming developments in the Hainan Free Trade Port, emphasizing its role in China's new round of opening up and high-quality development [4][20]. Group 1: International Connectivity - Georgia Airlines has expanded its operations in Hainan Free Trade Port by increasing international flight routes from one to five, enhancing direct connections to Southeast Asia, Europe, and Oceania [1]. - The Hainan Free Trade Port is witnessing a surge in international shipping, with the "China Yangpu Port" registering 65 vessels, leading the nation in terms of quantity and scale [12]. Group 2: Economic Development - Hainan has seen a 40% year-on-year increase in actual foreign investment, with 1,513 new foreign enterprises established in the first three quarters of the year [15]. - The total volume of EF account transactions in Hainan exceeded 200 billion yuan by the end of September, indicating robust cross-border financial activities [16]. Group 3: Infrastructure and Policy Readiness - The Hainan Free Trade Port is preparing for its full closure on December 18, 2025, with comprehensive pressure testing and operational readiness being established across various ports and customs facilities [10][8]. - The implementation of the "Hainan Free Trade Port Port Management Service Regulations (Trial)" and other policy documents is underway to facilitate smooth customs operations [10]. Group 4: Industry Growth and Innovation - Hainan is focusing on developing four leading industries, which accounted for 67.2% of the regional GDP in the first three quarters, marking a 14.2 percentage point increase since 2020 [20]. - The establishment of a contract research organization (CRO) model in the seed industry has expanded beyond Hainan, showcasing the province's innovative agricultural practices [18]. Group 5: Sustainable Development - Hainan is committed to ecological sustainability, with a high air quality index and significant increases in afforestation, including nearly 30,000 acres of new mangrove forests over the past five years [21]. - The province is also advancing in the electric vehicle market, achieving the highest penetration rate in the country [21].

Core Insights - The People's Bank of China Hainan Branch reported that as of the end of September, the EF account business volume exceeded 200 billion RMB, indicating an increased level of financial openness in the Hainan Free Trade Port [1] Financial Performance - As of September, over 600 EF accounts have been opened in Hainan, with a business volume surpassing 200 billion RMB, facilitating fund transfers with 76 countries and regions [1] - A total of 14 banks in Hainan have been approved for prudent compliance, with pilot business amounts under the current account reaching 42.311 billion USD, benefiting 184 quality enterprises [1] - The capital account pilot business amounted to 2.8 billion USD, benefiting 100 enterprises [1]

钛媒体App 10月25日消息，中国人民银行海南省分行昨日召开前三季度海南金融运行情况新闻发布会， 从发布会上获悉，截至9月末，EF账户发生业务量超2000亿元人民币，自贸港金融对外开放水平进一步 提升。据介绍，中国人民银行海南省分行持续指导试点银行开展政策宣介，积极支持更多符合条件的优 质企业开立EF账户，稳妥推动EF账户扩面增量。截至9月末，全省共开立EF账户600余个，发生业务量 超2000亿元人民币，开户主体通过EF账户与76个国家和地区发生资金划转。跨境贸易投资高水平开放 试点业务持续扩面增效。截至9月末，海南辖内备案审慎合规银行14家，全省累计发生经常项下试点业 务金额423.11亿美元，惠及优质企业184家；资本项下试点业务金额28亿美元，惠及企业100家。 (海南 日报) ...

Core Insights - The People's Bank of China Hainan Branch reported that as of the end of September, the EF account business volume exceeded 200 billion RMB, indicating an enhanced level of financial openness in the Hainan Free Trade Port [1] - The cross-border trade and investment pilot business continues to expand, with a total of 423.11 billion USD in current account pilot business and 28 billion USD in capital account pilot business recorded [1][2] - The cross-border asset management pilot policy has been successfully implemented, with four institutions approved for a trial scale of 5 billion RMB [2][3] Financial Performance - As of the third quarter, Hainan's cross-border receipts and payments reached 80.46 billion USD, a year-on-year increase of 1.1% [1] - The total foreign exchange settlement and sales amounted to 17.98 billion USD, with a year-on-year growth of 10.4%, including a settlement scale of 4.63 billion USD (up 22.5%) and a purchase scale of 13.35 billion USD (up 2.4%) [1] - The province's goods trade balance was 35.28 billion USD, with duty-free imports reaching 2.14 billion USD, reflecting a growth of 26.6% [2] Investment Trends - Direct investment receipts in Hainan totaled 36.71 billion USD, marking a 4.2% increase, with foreign direct investment into China reaching 6.66 billion USD, up 28.5% [2] - The cross-border asset management pilot is a key financial policy for the Hainan Free Trade Port, with successful issuance of pilot products by two institutions for overseas investors [3] - Financial management departments are enhancing services for overseas investors, ensuring smooth account opening, fund transfers, and compliance with anti-money laundering regulations [3]

Group 1 - The EF account has been successfully launched by the National Development Bank Hainan Branch, marking a significant step in supporting the construction of Hainan Free Trade Port [1][2] - A total of 11 banks in Hainan have now launched the EF account, which is a crucial financial infrastructure for the free trade port, facilitating the free flow of cross-border funds [1] - The EF account system went live in May 2024, with 10 banks participating in the initial pilot phase [1] Group 2 - The launch of the EF account positions the National Development Bank as the first policy bank to have both EF and FT accounts within the free trade accounting system [2] - The Hainan branch of the National Development Bank plans to enhance its role in policy finance and leverage the advantages of the EF account to innovate bookkeeping services in Hainan [2] - The bank aims to provide superior financial services to support Hainan's development as "two bases," "two hubs," and "two networks," promoting high-level openness of the Hainan Free Trade Port [2]

Group 1 - Hainan Free Trade Port is progressing towards full island closure operation, with a robust policy framework established under the "4321" system [1][2] - The EF account has facilitated over 170 billion yuan in cross-border fund settlements since its launch, enhancing international financial market access [1][2] - The aircraft maintenance industry has emerged as a key sector in Hainan's high-end service industry, reflecting the optimization of the province's industrial structure [2][3] Group 2 - Hainan's actual use of foreign capital has grown at an average annual rate of 14.6% over the past five years, with total foreign investment exceeding 100 billion yuan [2][3] - The province's economic openness has increased, with the external trade ratio rising to 35% and domestic sales value tripling due to tariff exemptions [2][3] - Hainan is becoming a new hotspot for global investment and entrepreneurship, showcasing China's commitment to high-level opening up [3][4]

Core Insights - Hainan Free Trade Port is entering a new opportunity phase with the historic full island closure operation set for December 18, 2025 [1] - The "4321" institutional framework has been established, significantly enhancing economic openness [2] Economic Development - Hainan's actual foreign investment has grown at an average rate of 14.6% annually over the past five years, surpassing 100 billion yuan [2] - The economic openness has increased to 35%, with internal sales value tripling due to tariff exemptions [2] - The number of countries with visa-free entry to Hainan has expanded to 85, establishing partnerships with 39 overseas free trade zones [2] Industrial Growth - Key industrial parks contribute significantly to Hainan's economy, with less than 2% of the land generating 30% of investment, 50% of tax revenue, 70% of imports and exports, and 90% of foreign capital utilization [3] - Haikou National High-tech Zone is projected to achieve an industrial output value of 51.47 billion yuan in 2024, with a revenue of 75.13 billion yuan [3] - The biopharmaceutical industry in Haikou is expected to reach an output value of 21.41 billion yuan in 2024, accounting for 82.9% of Haikou's pharmaceutical output [3] Policy Incentives - Hainan Free Trade Port offers various tax incentives, including a 15% corporate income tax rate for biopharmaceutical companies and zero tariffs on 356 imported goods [5] - The "Lecang Research + Haikou Production" model allows for the import of unlisted drugs and medical devices, providing financial rewards for successful registrations [5] Digital Economy - Hainan Ecological Software Park has evolved into a core carrier for the digital economy, with annual revenue exceeding 200 billion yuan [6] - By 2025, the park is expected to host over 15,000 companies, including major players like Tencent and Baidu [6] Agricultural Innovation - The Yanzhou Bay Science and Technology City is developing salt-tolerant rice varieties, achieving yields of over 400 kg per mu under saline conditions [7][8] - The city has attracted over 20 leading seed companies, forming a robust agricultural innovation ecosystem [8] Financial Infrastructure - The introduction of the multi-functional free trade account (EF account) has facilitated over 170 billion yuan in cross-border settlements since its launch in May 2024 [11] - The EF account enhances the efficiency of cross-border trade and investment, significantly reducing transaction times [11] Customs and Logistics - Hainan has established eight open ports and ten "second-line ports" to optimize traffic organization and improve passage efficiency [12] - The "forward push and backward shift" policy aims to enhance the customs clearance efficiency of agricultural products [14] Business Success Stories - Hainan Oscar International Grain and Oil Co., Ltd. has achieved a production value of 5.95 billion yuan in 2024, benefiting from tariff exemptions on processed goods [15][16] - The company has saved approximately 300 million yuan in tariffs since its establishment, significantly lowering operational costs [18]

Core Insights - Hainan Free Trade Port is progressing towards full island closure operations, with a robust policy framework and institutional foundation being established [1][3] - The "4321" policy system has been initiated, enhancing the flow of people, goods, capital, and data, while increasing tax incentives for businesses and individuals [1] - The EF account has emerged as a key financial innovation, facilitating over 170 billion yuan in cross-border fund settlements since its launch, significantly improving the efficiency of cross-border transactions [1][2] Policy Framework - The "4321" policy system includes four types of flows (people, goods, capital, data), three areas of trade (goods, services, investment), two tax incentives, and one legal foundation [1] - The establishment of the Hainan Free Trade Port Law is enhancing legal protections and governance [1] Financial Innovation - The EF account has been operational since May 2024, covering transactions with 61 countries and regions, and allowing for high levels of cross-border fund transfer freedom [1] - The EF account's applications have expanded to various financial scenarios, significantly reducing costs and improving transaction efficiency for businesses [1][2] Economic Development - The aircraft maintenance industry has become a flagship high-end service sector in Hainan, with over 2,300 aircraft serviced and significant tax savings achieved through free trade policies [2] - Hainan's GDP structure has shifted, with the four main industries (tourism, modern services, high-tech, and efficient tropical agriculture) now accounting for 67% of the province's GDP, an increase of 13.7 percentage points over five years [2] Investment and Trade - Hainan has seen an average annual growth of 14.6% in actual foreign investment over the past five years, surpassing 100 billion yuan cumulatively [2] - The province's economic openness has increased, with the external trade ratio rising to 35% and domestic sales value tripling due to tariff exemptions [2]

Core Insights - Hainan Free Trade Port is progressing towards full island closure operations, marking a significant milestone in its development [1][3] - The "4321" policy framework has been established, enhancing the flow of people, goods, capital, and data, while providing tax incentives and legal protections [1] - The EF account has emerged as a key financial innovation, facilitating over 170 billion yuan in cross-border transactions since its launch [1][2] Policy Framework - The "4321" policy system includes four types of flows (people, goods, capital, data), three areas of trade (goods, services, investment), two tax incentives for businesses and individuals, and one legal foundation through the Hainan Free Trade Port Law [1] - The integration of these policies aims to create a stable and innovative environment for the long-term development of the free trade port [1] Financial Innovation - The EF account, launched in May 2024, has completed cross-border fund settlements exceeding 170 billion yuan, covering 61 countries and regions [1] - The account allows for high levels of capital transfer freedom, aligning with international financial market standards [1] - Companies have reported significant improvements in cross-border transaction efficiency and cost savings due to the EF account [1][2] Economic Development - The aircraft maintenance industry has become a flagship high-end service sector in Hainan, with over 2,300 aircraft serviced since 2022 [2] - The contribution of key industries (tourism, modern services, high-tech, and efficient tropical agriculture) to Hainan's GDP has increased by 13.7 percentage points over the past five years, reaching 67% [2] - Hainan's actual foreign investment has grown by an average of 14.6% annually, surpassing 100 billion yuan, with the economic openness increasing to 35% [2] Symbolic Significance - The decision to initiate full island closure operations on December 18, 2023, symbolizes China's commitment to high-level opening-up and showcases Hainan as a new hub for global investment and entrepreneurship [3]

Core Viewpoint - Hainan Free Trade Port is becoming a hub for multinational companies, facilitating cross-border capital flow through the implementation of the multi-functional EF account, which is seen as a significant financial infrastructure for the port's operations [1][4]. Summary by Sections EF Account Overview - The EF account is a unified onshore and offshore currency account system established by banks in Hainan Free Trade Port, categorized into four types based on the account holder: EFE, EFN, EFF, and EFU accounts [3]. - The EF account enhances the efficiency of fund transfers between domestic and foreign accounts, significantly improving the convenience of cross-border trade and investment for enterprises [3]. Benefits for Enterprises - Enterprises can complete cross-border fund transfers for current account transactions with just a payment instruction, eliminating the need for extensive documentation and approval processes [3]. - The EF account allows businesses to bypass restrictions related to foreign debt and cross-border financing, reducing operational costs and barriers [3]. Application and Impact - The EF account's application scenarios are expanding, covering various financial activities such as cross-border trade settlement, foreign exchange transactions, loans, and foreign investment [4]. - The account supports multiple currencies, including USD, EUR, and JPY, allowing companies to choose between onshore and offshore exchange rates for better financial management [4]. Efficiency and Growth - Companies report significant improvements in the efficiency of cross-border transactions, with processes that previously took 1-2 days now completed in 2-3 hours [6]. - As of August 2025, the China Bank Hainan branch has opened EF accounts for 61 market entities, processing 601 transactions totaling 27.929 billion yuan, with the provincial banking system having over 500 EF accounts and a transaction volume exceeding 170 billion yuan [6]. Future Prospects - The EF account is expected to provide robust financial support for higher levels of openness in Hainan Free Trade Port post-closure, with ongoing adjustments to policies and rules to meet the diverse financial needs of enterprises engaged in international trade [7].