Financial Base of China's Sea Silk Road Cuts Ribbon in Hainan
Dou Shicong
DATE:  Jun 19 2018
/ SOURCE:  Yicai
Financial Base of China's Sea Silk Road Cuts Ribbon in Hainan Financial Base of China's Sea Silk Road Cuts Ribbon in Hainan

(Yicai Global) June 19 -- Sanya, the most southerly city in China's southernmost Hainan province, unveiled the financial headquarters of the Maritime Silk Road initiative to revive the country's ancient sea trade routes. The base will be dedicated to creating an international service system and a broker transaction platform, providing a well-rounded, open international financial service system and concentrating various monetary resources.

The inauguration ceremony for this financial headquarters and a related seminar were held on June 16. Present at the conference were 120 representatives from the financial sector nationwide, who talked on a wide range of topics, such as Sanya's financial innovation, financial opening-up, and pilot free trade zone, media portal newshainan.com reported.

The city will strive to develop new sectors such as inclusive, internet, green, technological and cultural finance, and bring in wholly foreign-owned or foreign-controlled financial enterprises including banks, securities firms, insurance, and funds, as part of an overall endeavor to build the base and construct an international offshore financial center, said A Dong, Sanya's mayor. 

The beachside resort city has been vigorously developing its financial sector in recent years and has lured financial institutions such as China Development Bank, China CITIC Bank, and Sunshine Insurance to support the growth of the local industrial platform and advance the construction of its pilot free trade zone and free trade port, A added.

Chinese President Xi Jinping announced backing for the island province's construction of an island-wide pilot free trade zone and free trade port April 13 at the annual meeting of the Boao Forum for Asia. A key part of this will consist of cultivating the local financial field.

Editor: Ben Armour

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Keywords:   Sanya,HAINAN,Maritime Silk Road