The multifunctional Electronic Fence account for the Hainan Free Trade Port offers benefits like integrated domestic and foreign currency accounts, seamless cross-border fund flows, the application of the offshore RMB exchange rate and limited permeability between domestic and overseas funds, providing convenience for cross-border enterprises and individuals.
From its launch in May last year to the end of July this year, a total of 483 EF accounts had been opened in the Hainan Free Trade Port, with cumulative fund flows reaching 172.6 billion yuan ($24.26 billion), covering 61 countries and regions worldwide.
Ma Mengmeng and Zhang Jie contributed to this video.
