On December 20th, the Hainan Financial Regulatory Bureau issued the “Guiding Opinions on Hainan’s Banking and Insurance Industry Fully Supporting the Operation of Hainan Free Trade Port Sealing”. The Guiding Opinions focus on fully supporting the operation of the Hainan Free Trade Port’s customs clearance and propose four specific measures. One is to promote the free and convenient flow of cross-border funds and expand high-level financial opening-up to the outside world. This includes actively utilizing multifunctional free trade accounts to promote the free and convenient flow of cross-border funds, exploring the integration of international high standard economic and trade rules in the financial field, and exploring pilot projects for cross-border asset management business. The second is to actively serve the real economy and enhance the resilience of the financial system. This includes supporting the construction of hardware facilities for the sealing operation of Hainan Free Trade Port, accurately increasing financial services in key areas, assisting in the development of new quality productivity according to local conditions, promoting support for the construction of national ecological civilization pilot zones, and fully leveraging the economic shock absorber and social stabilizer functions of the insurance industry. Thirdly, we will strengthen the construction of financial infrastructure and vigorously optimize the business environment. This includes supporting various high-quality overseas banks and insurance institutions to participate in the construction of Hainan Free Trade Port, accelerating the digital transformation of the banking and insurance industry, creating characteristic application scenarios for the Free Trade Port platform, and providing talent and financial services for the Free Trade Port. Fourthly, there are safeguard measures. This includes strengthening overall coordination, promoting implementation, seeking policy support, and enhancing risk prevention and control.
Scan code to share