Hainan Branch of the People's Bank of China "Management Measures for Multifunctional Free Trade Accounts in Hainan Free Trade Port"

In accordance with the requirements of the "Electronic Fence Construction Plan for Hainan Free Trade Port and Hengqin Guangdong-Macao Deep Cooperation Zone" (Yinfa [2023] No. 119), our bank has formulated the "Management Measures for Hainan Free Trade Port Multifunctional Free Trade Account Business" (hereinafter referred to as the "Management Measures"), which are now issued to you and the relevant matters are notified as follows. Please follow them.
1. Banking institutions in Hainan Province should formulate a management system for multifunctional free trade accounts in Hainan Free Trade Port in accordance with the requirements of the "Management Measures" and conduct self-assessment in accordance with the relevant requirements for prudent qualification. After the self-assessment is qualified, you can submit a self-assessment report to our bank and submit a written application for system access.
2. Banking institutions that intend to carry out multifunctional free trade account business must complete the construction of the business system in accordance with the relevant requirements of the People's Bank of China. Banking institutions in Hainan Province whose account business systems have been evaluated by our bank as qualified can provide financial services related to multifunctional free trade accounts.
3. Banking institutions in Hainan Province should strictly handle the relevant business of Hainan Free Trade Port multifunctional free trade accounts in accordance with the "Management Measures".
4. Banking institutions in Hainan Province should adhere to financial services for the real economy, coordinate development and security, strengthen risk monitoring and prevention of capital flow, formulate risk plans, and maintain the bottom line of safety when carrying out multi-functional free trade account-related businesses; abnormal transactions should be reported to the Hainan Branch of the People's Bank of China and the Hainan Branch of the State Administration of Foreign Exchange in a timely manner.
Notice hereby.

Hainan Branch of the People's Bank of China
April 3, 2024