Hainan Free Trade Port officially launched the island wide lockdown starting from December 18th. The reporter learned from the People's Bank of China that the People's Bank of China continues to improve its financial policies and institutional system that are compatible with Hainan Free Trade Port, and strongly supports the formation and momentum of the construction of Hainan Free Trade Port. The financial preparations for the closure have been fully completed, and support the high standard construction of Hainan Free Trade Port. In order to support the high-level free and convenient flow of cross-border funds in Hainan Free Trade Port, the People's Bank of China and the State Administration of Foreign Exchange launched the Hainan Free Trade Port Multi functional Free Trade Account (EF Account) in May 2024, constructing a unified domestic and foreign currency account system. According to the People's Bank of China, since the launch of the EF account, the number of pilot enterprises has continued to increase and the business volume has continued to improve. At the end of October, 11 banks in Hainan opened a total of 658 EF accounts, with a transaction volume equivalent to RMB 268.9 billion; The account holder has made fund transfers with 80 countries and regions. The People's Bank of China has also promoted a number of financial innovation policies in Hainan for pilot implementation: the pilot business of cross-border asset management has been successfully launched, and four pilot issuing institutions in Hainan have applied to carry out business; The pilot program for high-level opening up of cross-border trade and investment continues to deepen. Since the implementation of the policy, Hainan has accumulated $43.05 billion in cross-border trade facilitation pilot business and $2.8 billion in cross-border investment and financing facilitation pilot business... At the same time, the financial services of Hainan Free Trade Port continue to be optimized. At present, the comprehensive pilot of digital RMB in Hainan is being solidly promoted, and the level of convenience for foreign-related payments has significantly improved. In the first 11 months of this year, the number and amount of transactions for mobile payment products such as "external card internal binding" and "outsourced internal use" in the province increased by 97.4% and 100.11% year-on-year, respectively. A series of financial policies continue to be implemented to support the high-quality development of Hainan's economy and society. According to data from the People's Bank of China, as of the end of November, the balance of various domestic and foreign currency loans in Hainan Province was 1.4101 trillion yuan, an increase of 11% year-on-year. At the end of October, loans for science and technology related industries, green loans, inclusive loans, elderly care industry loans, and digital economy industry loans in Hainan Province increased by 9.2%, 25.4%, 9.8%, 157.4%, and 8.4% year-on-year, respectively. (New Society)