Hainan Free Trade Port Launches Island-Wide Special Customs Operations
Beijing, China – December 2025 – China’s central bank, the People’s Bank of China (PBOC), has completed its financial preparations for the start of island-wide special customs operations at the Hainan Free Trade Port (FTP), a major step in the country’s economic opening-up.
The PBOC has built a financial policy and institutional system specifically to support the high-standard development of the Hainan FTP. The initiative aims to streamline cross-border capital flows, enhance trade facilitation, and promote investment opportunities.
Key developments include:
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EF Accounts for Cross-Border Transactions: Since May 2024, 11 banks in Hainan have opened 658 multi-functional EF accounts, handling transactions worth 268.9 billion yuan (approx. 38.1 billion USD) across 80 countries.
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Financial Pilot Programs: Cross-border asset management and trade investment facilitation programs have led to 43.05 billion USD in trade transactions and 2.8 billion USD in investment facilitation.
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Digital RMB Expansion: Digital yuan pilots are being implemented across Hainan, improving convenience for overseas visitors and businesses.
The launch of island-wide special customs operations on Thursday marks a key milestone in China’s efforts to enhance international trade, attract foreign investment, and modernize its financial infrastructure.