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C&D Inc. Launches First Batch of Services for Hainan Free Trade Port's Multi-functional Free Account
2024/05/07
On May 6th, C&D (Hainan) successfully completed the first batch of transactions using the Hainan Free Trade Port's multi-functional free account (Hainan EF Account) at the Bank of China Hainan Branch. This included issuing offshore transshipment certificates under the EF framework and making foreign payments in USD through the EF account, significantly improving operational efficiency compared to traditional banking accounts.
The official use of the Hainan Free Trade Port EF Account is a critical part of the financial infrastructure construction for the Hainan Free Trade Port's independent custom operations planned for 2025. It will greatly facilitate enterprises to fully leverage domestic and foreign exchange rates and interest rates, easing the cross-border transfer of funds and accelerating the efficiency of capital operations.
