Hainan’s overall financial sector continued to grow steadily in the first quarter of 2026, as disclosed at a press conference in Haikou on May 13. There were great increases in cross-border payments and RMB settlement activities, and several pilot programs for financial opening-up within the Hainan Free Trade Port (FTP) achieved significant progress.

Haikou, the capital city of the Hainan Free Trade Port, serves as a frontier for financial opening-up. Pictured is the Guomao Central Business District in Haikou. (Photo: VCG) 

Cross-Border Payments and RMB Settlement Expand Rapidly 

In the first quarter, Hainan’s cross-border receipts and payments totaled US$35.2 billion, a 15.8% increase year on year. Cross-border receipts amounted to about US$16.5 billion, rising 16.3%, while cross-border payments were approximately US$18.6 billion, growing 15.5%.

During the same period, banks throughout the province processed CNY 172.6 billion in cross-border RMB transactions, reflecting a 17.5% increase compared to the previous year.

Pilot programs supporting cross-border trade and investment financing continued to grow. By the end of March, the total value of these pilot activities reached US$53.1 billion.

Reforms in the foreign exchange sector are gaining momentum. Sixteen branches across seven banks in Hainan have joined the reform program, representing a 77% rise from the end of 2025. In the first quarter, first-tier clients executed US$770 million in foreign exchange transactions via instruction-based processing, marking a fivefold increase over the previous year.

Pilot programs for the cross-border asset management sector advanced steadily. By the end of March, seven institutions in Hainan were eligible to participate in cross-border asset management pilots. Additionally, three institutions, Huibaichuan Fund, Jinyuan Securities, and Wanhe Securities, successfully raised a total of 126 million CNY.

Credit Structure Shifts Toward Technology, Green and Inclusive Finance

By the end of March, Hainan's total domestic and foreign currency deposits reached CNY 1.6094 trillion, a 6.6% increase year-on-year. Loans totaled CNY 1.488 trillion, rising by CNY 82.3 billion since the start of the year and growing 14.3% compared to the previous year. This growth rate surpassed the national average by 8.7 percentage points.

The province’s credit structure continued to strengthen. In technology finance, loans to tech companies grew by 10.1% year-on-year, while loans to the digital economy sector surged by 49.9%. The Hainan Branch of the People’s Bank of China mentioned that relending tools for technological innovation and equipment upgrades are aiding companies involved in overseas gaming expansion and cross-border e-commerce.

In green finance, guidance from carbon-emission reduction support tools has progressively improved. Financial offerings such as “carbon neutrality loans” and “ecological tourism loans” are becoming increasingly diverse, while pilot initiatives in blue finance are underway. In the first quarter, new green loans issued across the province totaled CNY 76.8 billion, up 67.6 billion year-on-year.

Inclusive loans to micro and small enterprises continued to grow, with outstanding loans reaching CNY 134 billion by the end of March, up 7.9% year-on-year. The number of borrowers increased by 8.8% to 149,400. Personal consumer loans, excluding housing, grew by 11.3% year over year, surpassing last year's growth rate by 3.7 percentage points.