According to representatives at a press conference held by the Haikou central sub-branch of the People's Bank of China on Feb 10, the Hainan Free Trade Port's financial policies have achieved remarkable results, with cross-border financial businesses active and the province's inflow of foreign direct investment in China increasing by nearly 70 percent year-on-year.
"The foreign exchange development of the Hainan FTP was good in 2021," said Fang Xin, president of the Haikou central sub-branch of the People's Bank of China and director of the Hainan branch of the State Administration of Foreign Exchange. The scale of cross-border revenue and expenditure increased by 102.8 percent year-on-year, while the scale of foreign-related revenue and expenditure of new offshore international trade increased by 4.15 times year-on-year. The inflow of foreign direct investment in China was $4.84 billion, a substantial increase of 68.1 percent year-on-year.
In 2021, Hainan introduced 16 QFLP (Qualified Foreign Limited Partner) fund management companies, as well as set up 45 QFLP funds, with a registered capital of $5.11 billion and a cumulative cross-border inflow of $770 million. A total of 37 fund management companies have obtained the pilot qualification of QDLP in Hainan province, established five QDLP funds, and accumulated a cross-border outflow of $130 million.
In 2021, the business scale of Hainan's free trade account increased significantly, with the annual revenue and expenditure of the separate accounting unit exceeding 150 billion yuan, which is 3.1 times that of 2020.
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