The Hainan Free Trade Port multi-functional free trade account ( "EF account") has attracted attention from all walks of life since it was officially launched on May 6. How to use an EF account? What are the entry thresholds and application scenarios? How does our province help small, medium and micro enterprises to further solve the problems of difficult, expensive and slow financing? On June 12, the second "Operation" Policy Interpretation Conference in Free Trade Port "webcast event jointly carried out by the Hainan Provincial Business Environment Department was held at Windows to Global Trade( Short as “WGT”)  in Haikou, sending financial policy" Dry goods "to online and offline enterprises.

"' Operation 'in the Free Trade Port Policy Interpretation Conference" webcast activities are guided by the Publicity Department of Hainan Provincial Party Committee Propaganda Department and the Deep Reform Office of the Provincial Party Committee, the provincial Business Environment Department jointly carried out , and WGT provides support. The event was broadcasted live simultaneously on multiple platforms such as "Hainan Release" public account, "Hainan Business Environment" public account, "Hai xiaoer" Tiktok account, provincial enterprise integrated service platform (enterprise code), People's Daily Hainan Channel, Hainan Radio and Television Group, Sansha TV, Nanhai Network, and Sina Hainan. It has achieved good effect of policy interpretation and publicity.

After fully listening to the actual demands of enterprises, the relevant persons in charge of financial institutions such as Hainan Branch of the People's Bank of China, Hainan Branch of China Construction Bank and Haikou Branch of China Merchants Bank Co., Ltd. explained in detail the account classification, main advantages, applicable objects and application scenarios of EF accounts in the live broadcast activities on the same day. And on-site response to questions in the process of enterprise business management, and effectively open up the pain points of policy implementation.

With the expansion of overseas business, in recent years, Australian American Pharmaceutical (Hainan) Co., Ltd. has an increasingly urgent need for the convenience of cross-border capital transfer. "After watching the whole broadcast, we have a deeper understanding of EF accounts, which can greatly improve the ease of cross-border capital flow, which is very attractive to us." Shi Min, the company's finance director, was blunt.

Many enterprises have been attracted by EF account site , and some enterprises have taken the lead in "early taste".

Not long ago, Hainan ITG Industrial Co., Ltd. completed a quick transfer from the domestic general account to the overseas account through the EF account for the purchase of pulp and paper. "The whole process took about half an hour. In the past, it took one to two days." Long Minqi, capital manager of Hainan ITG said that for the company, which has been engaged in international trade business for a long time, the rapid transfer of funds not only helps to carry out business, but also greatly saves time and cost.

Enterprise on-site questioning

Many domestic enterprises have also paid attention to the online operation of EF accounts. Due to optimistic prospects for the development of free trade ports, Mengniu Group, which has set up a subsidiary in Hainan, also opened an EF account not long ago. "We have noticed that EF accounts can be transferred across the second line with the same name and the first line remittance can be handled with the receipt and payment instructions, which greatly improves the efficiency of business processing." Liu Yang, head of financial management and fund operation of the financial Department of Mengniu Group, said that at present, the group is upgrading its overseas Treasury center, and based on the important financial infrastructure of EF account, the group will include Hainan in its strategic layout.

On the same day, the live event also invited the relevant person in charge of the Financial Office of the Provincial Party Committee to promote the Hainan intelligent financial integrated service platform (hereinafter referred to as the "Zhijin Platform") on the spot, and interpret the relevant preferential policies. "At present, Zhijin platform has a discount policy for small, medium and micro enterprises in the province, that is, through the platform to apply for 10 million yuan (including) within the unsecured credit loans and approved, will give the actual loan amount of 1% discount interest support." According to Zhang Luyi, assistant general manager of Hainan Registration and Settlement Co., LTD., the policy will effectively alleviate the problem of "expensive financing" of enterprises.

Business representatives carefully listen to the free trade port policy

"We haven't been able to find financial products that fit our positioning." While watching the live broadcast, while on the Zhijin platform "Tao goods", Hainan Zhongming Engineering Co., LTD. Operations manager He Limei bluntly harvest, "it is like a 'financial supermarket', we do not leave the house, we can choose to suit their own financial products."

This event aims to provide authoritative and accurate policy consultation and answer services for enterprises, and further improve the accuracy, effectiveness and coverage of Hainan Free Trade Port policies. Hainan has not only launched a one-stop policy inquiry and interpretation platform for the free trade port to fully solve the needs of enterprises for in-depth policy inquiry and interpretation of the Hainan Free Trade Port, but also comprehensively upgraded the Hainan Enterprise comprehensive service platform (enterprise code) to build a full life cycle service system for enterprise start-up, operation and exit. More enterprises are welcome to log in to the Haiyi Office to register and use enterprise code to enjoy more services.

WGT is committed to relying on its own platform resource advantages, build a bridge of communication between government and enterprises, and help enterprises accurately understand the key policies of the free trade port by undertaking various policy exchanges, help enterprises develop, and promote the continuous optimization of the business environment in Hainan.