Core Viewpoint - The article highlights the efforts of Zhuhai's Construction Bank in enhancing cross-border financial services through the EF account system, facilitating international business operations for local enterprises, and supporting the city's high-level opening-up strategy [2][3][5]. Group 1: Cross-Border Financial Services - Zhuhai Construction Bank has successfully facilitated the first EF account transaction for a local technology company, showcasing the advantages of the EF account system in supporting enterprises' overseas investments and promoting financial connectivity between Guangdong and Macau [3][4]. - The EF account system provides significant benefits in trade settlement, allowing for efficient cross-border payments without prior verification of background materials for transactions under $50,000, thus enhancing the competitiveness of high-tech enterprises in cross-border trade [4][5]. - The bank has processed a total of 8.08 billion yuan in fund transfers and foreign exchange transactions through the EF account, indicating its growing application in various financial scenarios [5]. Group 2: Support for Local Enterprises - Zhuhai Construction Bank has been instrumental in providing comprehensive financial services to local manufacturing enterprises, helping them adapt to global market demands and facilitating their international expansion [6][7]. - The bank has designed a series of financial products to mitigate exchange rate risks for local companies, including a risk-reversal options strategy that reduces hedging costs while effectively managing currency exposure [7]. - In 2023, the bank has completed 30 foreign direct investment (FDI) transactions totaling approximately $1.66 million, demonstrating its commitment to attracting foreign capital into key sectors of the local economy [13]. Group 3: Attracting Foreign Investment - Zhuhai's favorable business environment and proximity to Hong Kong and Macau have made it an attractive destination for foreign investment, particularly in new production capabilities and green technologies [11][12]. - The bank has supported foreign investment initiatives, such as the acquisition of a local supply chain management company by a Hong Kong-listed firm, enhancing the local economy's capacity for waste management and recycling [12]. - The bank has established a comprehensive cross-border custody service framework, facilitating the smooth flow of cross-border funds and supporting local enterprises in their overseas ventures [13].

Core Viewpoint - The EF account in Hainan Free Trade Port has successfully facilitated cross-border fund flows with 61 countries and regions within just over a year since its launch, significantly enhancing the ability of enterprises to "go global" [2][9]. Group 1: EF Account Launch and Initial Success - The EF account was officially launched on May 6, 2024, and has been described as a "highway" for cross-border fund flows, attracting strong interest from enterprises and financial institutions [3]. - The first overseas remittance of $13.75 million was successfully completed by Shide Group using the EF account, marking a significant milestone in its operational capabilities [2][5]. - The successful execution of the first overseas remittance has not only provided convenience for enterprises but also established a replicable model for financial institutions to follow in similar transactions [5][6]. Group 2: Expansion of Application Scenarios - Since its launch, the EF account has seen a continuous expansion of application scenarios, with various types of businesses successfully utilizing it for cross-border trade settlements, foreign exchange transactions, working capital loans, overseas remittances, and direct investments [9]. - As of June 2025, over 20 billion yuan has been processed through the EF account, indicating its growing importance in facilitating cross-border financial activities [8]. - The EF account has evolved from initial single transactions to multiple transactions, serving a broader range of market entities, including key enterprises in the manufacturing sector [6][9]. Group 3: Financial Infrastructure and Policy Benefits - The EF account has significantly improved the convenience and efficiency of trade and investment activities, reflecting the increasing openness of Hainan Free Trade Port and the diversification of trade and investment forms [9]. - The establishment of a standardized process for cross-departmental collaboration has been crucial in ensuring the effective implementation of policies related to the EF account [5][7]. - The continuous accumulation of operational experience and the development of a mature service system are laying the groundwork for the bulk development of future business activities [7].

Core Viewpoint - The establishment of the EF account in Hainan Free Trade Port has significantly enhanced cross-border capital flow, facilitating over 170 billion yuan in transactions within a year, marking a milestone in financial openness and efficiency in the region [4][5]. Policy Empowerment - The People's Bank of China initiated the EF account to support the operational closure of Hainan Free Trade Port, with the account officially launched on May 6, 2024, and has since been well-received by businesses [5][6]. - The EF account serves as a crucial financial infrastructure for Hainan's gradual financial opening, allowing for more convenient cross-border capital flow management [5][10]. - The EF account operates under a principle of "one line open, two lines manage," which simplifies the cross-border capital flow process compared to traditional methods [5]. Business Practice - On the first day of the EF account's launch, 34 companies opened accounts, with one company completing five transactions in a single day, demonstrating the efficiency of cross-border capital movement [6]. - In the first half of 2025, 273 new EF accounts were opened, a significant increase from the previous year, with a total transaction volume of approximately 91.8 billion yuan, indicating growing business engagement with the EF account [8]. Financial Innovation - The EF account has shifted business needs from basic cross-border settlements to global treasury management, enhancing liquidity and competitiveness for enterprises [9]. - The successful implementation of the first EFN loan has provided a new financing model for other companies, promoting innovation in the cross-border financial sector [9]. Risk Control - The EF account's design balances the need for free capital flow with risk management, establishing a financial "electronic fence" to ensure safe and orderly operations [10]. - The account's framework allows for limited penetration between cross-border and domestic accounts, creating a safeguard while promoting financial market openness [10].

Group 1 - The Hainan Provincial Government has issued a three-year action plan (2025-2027) to accelerate the construction of a modern industrial system with distinctive advantages, emphasizing the need for a financial service system that matches this industrial framework [1][2] - The action plan aims to enhance the proportion of loans to the manufacturing sector and promote the development of a multi-tiered capital market and industrial insurance [1][2] - By 2027, the asset management amount of the modern financial industry cluster in Sanya's central business district is expected to approach 600 billion yuan [1] Group 2 - The action plan outlines measures to improve factor guarantees, including increasing fiscal investment in the modern industrial system and leveraging the investment fund for the free trade port [2] - 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 and the construction of an international tourism consumption center [2] - The plan aims for the added value of modern service industries to approach 30% of GDP, with a strong emphasis on the integration of productive services and advanced manufacturing [2]

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]

Group 1: Clinical Trials and Biotechnology - The phase I clinical trial for the type II herpes simplex virus mRNA vaccine developed by Zhuhai Lifanda Biotechnology Co., Ltd. and Changchun Baike Biotechnology Co., Ltd. has commenced, focusing on safety, tolerability, and immunogenicity among participants aged 18 to 55 [1] - Zhuhai Lifanda, established in June 2019, specializes in the development of mRNA drugs targeting infectious diseases, tumors, rare diseases, and other protein deficiency-related conditions [1] Group 2: Financial Services and Cross-Border Investment - The first EF account under the Macao dollar ODI business has been successfully processed by the Hengqin branch of China Construction Bank for Chip Tide (Zhuhai) Technology Co., Ltd., marking a significant milestone in cross-border financial services [2] - As of June 2025, the Hengqin branch has opened 103 EF accounts, becoming the first pilot bank to surpass 100 accounts, with a total fund transfer and foreign exchange volume exceeding 700 million yuan [2] Group 3: Real Estate and Housing Solutions - The "He Yu" rental platform, launched by Hengqin Shenhe Asset Management Co., Ltd., aims to address housing challenges for talent in the Hengqin Guangdong-Macao Deep Cooperation Zone by increasing the supply of high-quality housing [3] - The platform intends to enhance the rental process through technology, ensuring efficient matching between talent and housing resources, and aims to create a community ecosystem for residents [3] Group 4: Pharmaceutical and Traditional Medicine - Guangdong-Macao Pharmaceutical Co., Ltd., the only Chinese and EU GMP certified traditional Chinese medicine manufacturer in the Hengqin Guangdong-Macao Deep Cooperation Zone, has established a comprehensive production and quality management system [4] - As of July 2025, the company has provided production and registration agency services for over 20 types of Macao traditional Chinese medicine products, facilitating the integration of Macao's international platform with Hengqin's production capabilities [4] Group 5: Tourism and Cross-Border Travel - The Hengqin port has seen over 2.08 million inbound and outbound travelers during the summer period, representing a 27.6% increase compared to the same period last year, with 1.28 million from the mainland [5] - The implementation of convenient travel policies, such as "one visa multiple entries," has significantly boosted cross-border tourism products between Hengqin and Macao [6] Group 6: Industry Events and Support Initiatives - The 20th "China Chip" excellent product solicitation event is set to take place on October 29 in the Hengqin Guangdong-Macao Deep Cooperation Zone, with submissions open until August 30 [7] - The event aims to recognize outstanding chip products and enterprises, particularly in the automotive industry and RISC-V ecosystem promotion [7] - The cross-border e-commerce industry support application for the first half of 2025 has been officially launched, encouraging service providers to support e-commerce enterprises with various professional services [8]

Core Viewpoint - The EF account launched by Bank of China Hainan Province significantly enhances the efficiency and convenience of cross-border transactions for enterprises, enabling faster processing times and reduced costs [2][3][4]. Group 1: EF Account Benefits - The EF account allows for online processing of cross-border settlements, reducing the time required from 1-2 working days to just 2-3 hours [2]. - Since its launch in May 2024, the EF account has facilitated over 400 million yuan in cross-border fund settlements, improving fund utilization efficiency and providing cost savings through offshore exchange rate conversions [2][4]. - The EF account integrates both domestic and foreign currencies, allowing for easier fund transfers without the need for special accounts or current approval limits [3]. Group 2: Business Impact and Statistics - As of May 2025, Bank of China Hainan has opened 96 EF accounts, serving 42 market entities, with total business transactions amounting to 11.813 billion yuan [4]. - The business types under the EF account include cross-border payments, convenient fund transfers, forward foreign exchange settlements, EF working capital loans, and EF international letters of credit [4]. - The establishment of the EF account is part of a broader initiative to create a more convenient cross-border capital flow system in Hainan Free Trade Port [3].

Core Insights - The establishment of the EF account in Hainan Free Trade Port has significantly facilitated cross-border capital flow, with over 330 accounts opened and a transaction volume exceeding 120 billion RMB as of early May 2023 [4][5] - The EF account allows for more convenient and cost-effective foreign exchange operations for enterprises, saving approximately 300 RMB per $10,000 in transaction costs [3][4] - The QFLP and QDLP policies are enhancing cross-border investment opportunities, attracting foreign capital into Hainan and allowing domestic funds to invest abroad [5][6] Financial Innovations - The EF account serves as a "currency bridge" between Hainan and foreign markets, enabling seamless cross-border transactions [4] - As of May 2023, 19 countries and regions have opened EF accounts in Hainan, with funds flowing to and from 48 countries [2][5] - The total foreign exchange revenue and expenditure in Hainan is projected to reach $108.63 billion in 2024, marking a significant milestone for the region [2] Policy Developments - The Hainan Free Trade Port has implemented a series of financial policies aimed at enhancing cross-border capital flow, including the expansion of the cross-border trade and investment pilot program [8] - The establishment of a cross-border capital centralized operation center is expected to further streamline financial operations and enhance the region's attractiveness for foreign investment [8] - The financial policies in Hainan are designed to create a secure and efficient environment for both domestic and international businesses, promoting a robust financial ecosystem [5][8]

Core Insights - The launch of the multi-functional EF account in Hainan Free Trade Port has led to significant growth in business volume, surpassing RMB 120 billion within a year [1][2] Group 1: EF Account Overview - The EF account was officially launched on May 6, 2024, and integrates both domestic and foreign currency account systems, allowing for multiple functions within a single account [1] - The EF account system includes domestic EFE accounts and overseas EFN accounts, enabling various cross-border financial operations under legal compliance [1] Group 2: Business Applications - The EF account is widely used for cross-border trade settlements, spot and forward foreign exchange settlements, working capital loans, overseas lending, overseas investment, and foreign investment [1] - The EF account has gained popularity among domestic and foreign enterprises, with a diverse range of account holders across various industries and regions [1] Group 3: Industry Distribution - EFE account holders span 40 industries, primarily concentrated in wholesale (especially trade enterprises), business services, and pharmaceutical manufacturing [2] - EFN accounts are involved in wholesale and retail, business services, energy development, biomedicine, and information technology sectors [2] - The registered locations of account-holding enterprises include China, Singapore, the British Virgin Islands, and 16 other countries and regions [2] Group 4: Impact on Financial Flow - The widespread application of the EF account has effectively enhanced the liberalization and convenience of cross-border capital flows in Hainan Free Trade Port [2]