Hainan Free Trade Port Cross-Border Asset Management Pilot Launches Today Policy Highlights Revealed

The "Implementation Rules for Cross-border Asset Management Pilot Business in Hainan Free Trade Port" jointly issued by the People's Bank of China Hainan Branch and four other departments are officially implemented starting today. The main content of the "Implementation Rules" focuses on how to support overseas investors in investing in asset management products issued by financial institutions within the Hainan free trade port, including which overseas investors can invest, which products they can invest in, how to invest, and how funds can be transferred in and out. According to the rules, the cross-border asset management pilot in Hainan Free Trade Port is open to overseas institutions and qualified individual investors worldwide, with diversified investment subjects. At the same time, the investment products cover securities funds, futures operating agencies, private equity asset management products, publicly raised securities investment funds, insurance asset management products, etc. issued by financial institutions within the Hainan Free Trade Port with risk levels ranging from R1-R4. In addition, investment accounts are also flexible. Overseas investors can open RMB bank settlement accounts and free trade accounts in banks within the Hainan Free Trade Port to purchase pilot asset management products through these accounts and are encouraged to be priced and settled in RMB. It is understood that the initial pilot has set a total scale limit, meaning that the net inflow limit of funds invested by overseas investors in pilot asset management products is 10 billion RMB, and the scale limit can be dynamically adjusted according to the economic and financial development situation of Hainan Free Trade Port, international balance of payments situation, market demand, etc. in the future.