Financial players gear up to help expand FTP gateway

The island-wide special customs operations mark the beginning of a new stage in the opening-up and development of the Hainan Free Trade Port.

Against this backdrop, financial institutions are fully integrating into the overall development of the Hainan FTP, helping the island to become an important gateway in leading China's opening-up in the new era, analysts said.

In recent years, Hainan province has stepped up efforts to build the hard and soft infrastructure required for the island-wide special customs operations. The Hainan Office of the National Financial Regulatory Administration issued guidelines in December 2024, setting out requirements for local banking and insurance institutions to support the construction of hardware facilities for the island-wide special customs operations and to strengthen financial infrastructure development.