With the tides surging across the mountains and seas, a new chapter begins. On December 18, the Hainan Free Trade Port officially launched the island-wide customs closure.
At this historic moment, Bank of Communications released its "Bank of Communications Cross-border Financial Services Plan for the Hainan Free Trade Port." According to a Bank of Communications representative, since 2020, the bank has issued special service plans for five consecutive years to support the development of the Hainan Free Trade Port. These plans cover industry guidance, policy analysis, and innovative approaches, closely aligning with the core tasks of the Hainan Free Trade Port's construction and effectively transforming national strategic plans into a blueprint for promoting high-quality development.
Using financial expertise to write the answer sheet for the construction of the free trade port
In recent years, the Hainan Branch of Bank of Communications has precisely targeted its credit resources to key areas of the real economy, laying a solid "financial foundation" for the construction of the Hainan Free Trade Port.
From the runway extension project at Boao Airport to the expansion project at Sanya Phoenix Airport, the financial support from the Hainan Branch of Bank of Communications is evident everywhere in the construction of transportation hubs. Through the opening of a green approval channel, a fixed asset loan of 700 million yuan was quickly approved, and nearly 80 million yuan was promptly disbursed. These funds have effectively guaranteed the smooth progress of key projects, laid a solid foundation for the key transportation infrastructure support for the operation of the Hainan Free Trade Port, and facilitated the flow of people and goods in the Free Trade Port with financial resources, thereby helping to improve the carrying capacity and operational efficiency of the port hub after the port is officially opened.
In the direct financing market, the Hainan Branch of Bank of Communications steadily increased its investment in Hainan local government bonds from RMB 2.67 billion in 2020 to RMB 6.5 billion in 2024, and underwrote more than RMB 3.4 billion in credit bonds, injecting stable and sustainable financial power into the local economic and social development.
As one of the first pilot banks for the multi-functional Free Trade Account (EF Account), Bank of Communications Hainan Branch has continuously deepened its involvement in the cross-border financial sector. As of the end of October 2025, the bank's EF business volume had exceeded RMB 46 billion. Simultaneously, the bank has assisted the Hainan Provincial Government in issuing offshore RMB local government bonds in Hong Kong for four consecutive years, and in September 2025, it facilitated the first investment in local government bonds through an EF account in the Hainan Free Trade Port, continuously expanding the breadth and depth of its cross-border financial services.
"We will focus on promoting the in-depth application of EF accounts in areas such as offshore bond/free trade zone bond issuance and new types of offshore international trade settlement, so as to improve the efficiency of fund settlement operation and management and facilitate cross-border fund flows," said a relevant person in charge of the Hainan Branch of Bank of Communications.
Precision irrigation for key industries in the free trade port
After the entire island of Hainan Free Trade Port is sealed off, the full implementation of the "zero tariff, low tax rate" policy will further enhance Hainan's attractiveness in terms of consumption and commerce.
To support the rapid development of the local cultural and tourism consumption industry, the Hainan Branch of Bank of Communications not only approved a loan of 500 million yuan for the third phase of the China Duty Free International Duty Free City project, but also acted as the lead underwriter to help Hainan Tourism Investment and Development Co., Ltd. successfully issue 1.4 billion yuan in medium-term notes. To date, the bank has cumulatively provided loans of 2.9 billion yuan to the cultural, sports, entertainment, accommodation, and catering industries, precisely meeting the integrated development needs of "cultural tourism + duty-free" and "cultural tourism + conventions and exhibitions" after the Hainan Free Trade Port's closure, laying a solid industrial foundation for the construction of an international tourism consumption center after the closure, and promoting the upgrading of the cultural and tourism industry.
As the only bank currently participating in the construction of the Hainan Province Credit-Based Medical Treatment Project, the Hainan Branch of Bank of Communications has officially launched related services in nine hospitals in the province, helping to improve the convenience of medical care, building a more efficient and inclusive public service system for the Hainan Free Trade Port's customs closure operation, empowering cross-border convenience scenarios with digital finance, optimizing the ability to protect people's livelihoods with credit-based medical treatment, and continuously consolidating the financial support for the well-being of people in the Free Trade Port after customs closure.
Leveraging the advantages of the Bank of Communications Group's interbank cooperation network covering more than 160 countries and regions worldwide, the Hainan Branch of Bank of Communications actively collaborates with its overseas branches to build a comprehensive service system that integrates domestic and foreign currencies. It has successively launched landmark businesses such as the first RMB1.68 billion offshore syndicated loan for ship leasing in the Hainan Free Trade Port and the first cross-border asset transfer.
Furthermore, Bank of Communications Hainan Branch actively breaks down product barriers and builds a service ecosystem covering the entire life cycle of enterprises, forming a comprehensive financial service model that leverages equity, debt, loans, leasing, and trust services. In the field of fund custody, the branch successfully launched five "first-of-its-kind" custody businesses, including Hainan's first Qualified Foreign Limited Partner (QFLP) fund and the first game overseas expansion fund. In the field of financial leasing, in conjunction with Bank of Communications Financial Leasing, it has cumulatively provided over RMB 6.2 billion in funding to key clients such as Hainan Railway, Meilan Airport, and Yangpu Port.
