Photo taken on Dec. 1, 2018 by a drone shows an international duty free mall in Sanya, south China's Hainan Province. (Xinhua/Yang Gaunyu)
BEIJING, July 23 (Xinhua) – South China's Hainan Free Trade Port (FTP) has witnessed a flourishing cross-border investment environment with enhanced financing convenience since the launch of the master plan of the FTP construction in June last year, according to local authorities.
The implementation of Hainan's pilot program of the Qualified Foreign Limited Partner (QFLP) launched in October last year, as well as the regulations on pilot overseas investment by Qualified Domestic Limited Partner (QDLP) issued in April this year have injected impetus to expand the cross-border investment channel in the FTP.
By far, the FTP has introduced 10 QFLP fund management enterprises and 13 funds through the QFLP pilot program, involving foreign exchange registration scale of 600 million U.S. dollars, and foreign exchange project reserves of more than 1 billion U.S. dollars.
Meanwhile, a total of 40 enterprises in the FTP have submitted applications for the first batch of QDLP pilot programs. Among them, the applications submitted by well-known asset management institutions such as Ping An Trust involved a total investment of nearly 13 billion U.S. dollars.
In addition, Hainan Province has implemented cross-border financing-related facilitation policies, such as the pilot program of transferring domestic credit assets to foreign countries. It has also lowered the threshold for enterprises to operate and manage foreign exchange funds of multinationals, to further improve the financing environment in the FTP.
(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)
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