Development of Hainan International Clearing House accelerating

On Dec. 13, the signing ceremony for the fourth group of Hainan Free Trade Port development projects was held in Haikou, Hainan, and included the Hainan International Clearing House, an important part of the real economy of the Hainan financial service industry.

Currently, the development of the Hainan International Clearing House is accelerating  and is in the first phase of capital and share expansion. So far the Clearing House has signed several strategic investment agreements with multiple companies in China’s commodity industry, with a total investment of 2 billion CNY (nearly 306.7 million USD).

Clearing capability is a reflection of the comprehensive management of capital and risk in a regional financial market. The Hainan International Clearing House has been established to hedge the risks in market price, freight, exchange rate, and interest rate fluctuations in cross-border trade and new offshore international trade, provide safe & convenient warehouse receipt financing services, provide a unified, professional platform for China’s over-the-counter derivatives transactions, and continue to promote the development of the Hainan Free Trade Port into a regional or even global trade settlement center.