The scene of the press conference. Xinhua net

Xinhuanet Haikou, May 6 (Wang Wenjun) On the afternoon of May 6, the Propaganda Department of the Hainan Provincial Party Committee of the Communist Party of China held a series of press conferences on the theme of "Interpretation of Hainan Free Trade Port Policy" (the sixth) in the Hainan Provincial Press Conference Hall - a special session of "Multi-functional Free Trade Account Officially Launched". On the same day, the multi-functional free trade account (EF account) of Hainan Free Trade Port was officially launched, and 10 banks in Hainan Province obtained the first batch of online operation qualifications, and successfully launched multi-functional free trade accounts.

The transfer of funds in the multi-functional free trade account follows the principle of "liberalization in the first line, cross-border management in the second line, and limited penetration of accounts with the same name across the second line". Through the implementation of financial account segregation between the multi-functional free trade account and the existing domestic and foreign currency accounts, it will provide the basic conditions for the free and convenient flow of cross-border funds between the Hainan Free Trade Port and overseas, and further serve the liberalization and facilitation of high-level trade and investment.

At present, 10 banks, including Bank of China Hainan Branch, China Construction Bank Hainan Branch, Agricultural Bank of China Hainan Branch, CITIC Bank Haikou Branch, Industrial and Commercial Bank of China Hainan Branch, Bank of Communications Hainan Branch, Shanghai Pudong Development Bank Haikou Branch, China Merchants Bank Haikou Branch, China Everbright Bank Haikou Branch and Industrial Bank Haikou Branch, have completed system transformation and officially launched multi-functional free trade accounts.

As of 12 noon, the first batch of 10 banks to launch EF accounts have opened EF accounts for a total of 34 enterprises, of which 27 domestic enterprises registered in Hainan have opened EFE accounts and 7 overseas enterprises have opened EFN accounts. A total of 34 transactions totaled RMB284 million in the EF account, involving business scenarios such as trade receipts and payments, foreign investment, overseas loans, foreign debts, foreign exchange settlement and sales, current loans, and letter of credit financing. Among them, 121 million yuan of cross-first-line fund transfer receipts and expenditures, 163 million yuan of cross-second-line fund transfer receipts and expenditures (including 152 million yuan of receipts and expenditures of domestic RMB bank settlement accounts and EFE accounts with the same name), 5.6 million yuan of foreign investment capital, 77.19 million yuan of overseas loans, 82.49 million yuan of letter of credit financing, 6.8 million yuan of current loans, and 64.89 million yuan of foreign exchange settlement and sales business.

Xie Duanchun, member of the Party Committee and vice president of the Hainan Branch of the People's Bank of China and deputy director of the Hainan Branch of the State Administration of Foreign Exchange, introduced that after the EF account is successfully launched, the Hainan Branch of the People's Bank of China will continue to promote the construction of business systems of other banks. At the same time, the Hainan Branch of the People's Bank of China will guide the online banks to make full use of the functions and policy advantages of EF accounts to provide better cross-border financial services for enterprises with real needs for foreign trade and investment, and help the Hainan Free Trade Port further improve the level of cross-border freedom and convenience of funds.