Hainan FTP: First non-resident online transaction completed

According to a representative from the Hainan International Energy Exchange, the first non-resident online transaction in Hainan, China’s southernmost province has been completed. The transaction is considered a bold and innovative implementation of the policy allowing non-residents to participate in trade and capital settlement at the trading venue, which is one of the 60 key policies of the thriving Hainan Free Trade Port.

As a landmark located in the CBD of the Jiangdong New District in Haikou, Hainan Province, the Hainan International Energy Exchange Center provides an international commodity financial trading platform and modern logistics headquarters. (Photo credit: jdxq.haikou.gov.cn)

On May 19, two overseas enterprises participated in the trade transaction at the Hainan International Energy Exchange with Grade A cathode copper as the target, and the transaction funds were received through the China Construction Bank FT account for the non-resident business.

According to a representative from the Hainan International Energy Exchange, the Exchange will continue to implement risk control and optimize business regulations in regard to actual market conditions in order to contribute to free, convenient capital flow inside and outside the Hainan Free Trade Port, as well as expand China’s market share in the international commodity market in the long term.