Chinanews.com Haikou, January 7 (Reporter Wang Ziqian) The reporter learned from the Hainan Provincial Local Financial Supervision and Administration Bureau on the 7th that the "Provisional Regulations on the Administration of Specific Varieties of Non-residents Participating in the Trading Places of Hainan Free Trade Port" (hereinafter referred to as the "Trial Regulations" ") has been officially issued.
The "Overall Plan for the Construction of Hainan Free Trade Port" proposes to support Hainan to promote the construction of property rights trading venues on the premise of optimizing and upgrading existing trading venues, and to study allowing non-residents to participate in transactions and conduct fund settlements in accordance with regulations.
The "Trial Regulations" clearly stated that non-residents refer to natural or legal persons other than residents, and residents refer to Chinese residents as defined in the "Measures for the Declaration of Balance of Payments Statistics" by the State Council and the People's Bank of China.
The "Trial Regulations" clarify the scope of non-residents to participate in transactions, list the conditions and rights and responsibilities of each participant, stipulate the basic rules and supervision and management requirements for non-residents to participate in transactions, and regulate the participation of non-residents in specific varieties as a whole The act of trading provides institutional guarantee for the formulation of industry standards.
The Hainan Provincial Local Financial Supervision and Administration Bureau stated that under the current situation, the issuance of the "Trial Regulations" is of great significance: First, it undertakes the new mission of the development of trading venues.
The central government supports Hainan in exploring non-residents' participation in transactions and settlement of funds in accordance with regulations, opening up a new development path for Hainan trading venues.
The second is to create a more complete regulatory framework.
Regarding the various links in which non-residents participate, the "Trial Regulations" ensure that the supervisory bodies perform their duties, ensure that the supervision methods are real-time controllable, and ensure the orderly development of supervision objects.
The third is to explore system integration and innovation.
The participation of non-residents in local trading venues and fund settlements is the first case in China. Hainan Provincial Financial Supervision Bureau will adjust and improve according to the actual situation, and strive to create a development path in which experience can be replicated and models can be promoted.
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