Financial Sector Statistics in Hainan Island, China in 2020 and prospects for 2021

In 2021, the banking system in Hainan Island, China will focus on improving the efficiency of financial services and full-scale services for the construction of the Hainan Free Trade Port. Among them, with a focus on core strategies, the loan balance of key projects within the jurisdiction amounted to 188.545 billion yuan, supporting the development of 510 projects, and the loan balance of 11 key parks in the province amounted to 42.09 billion yuan, an annual increase of 21 , 62%. The Hainan Banking and Insurance Regulatory Authority recently announced the above data at its 2021 workshop.


Financial institutions in the province are projected to focus on small and micro enterprises in 2021. As of the end of 2020, the balance of loans to small and micro enterprises in Hainan was 173.205 billion yuan, an increase of 14.23% over the same period last year; the recently issued interest rate on inclusive loans for small and micro businesses was 6.36%, down 1.32 percentage points from the same period last year; major banking institutions have accumulated 715 million yuan in reduced fees and profits for customers. Focusing on rural revitalization and helping to decisively fight poverty alleviation, the balance of agricultural loans amounted to 167.120 billion yuan, an increase of 6.708 billion yuan since the beginning of the year; the balance of targeted financial loans for poverty alleviation amounted to 31,399 billion yuan, an increase of 8.611 billion yuan from the beginning of the year. In addition, in 2021, the financial sector in the province will be gradually enriched.


The opening of the Hainan Taikang Pension Insurance Branch and the Hainan Haibao Life Insurance Branch was approved. Approved the construction of the Hainan Branch of the Taiping Hainan Property Insurance Branch and China Guangfa Bank. The insurance company launched a number of innovative products for the first time, such as Huiqiongbao and Boao Lecheng Global Special Medicine Insurance, and became a member of the Hainan Free Trade Port Special Medicine Special Medicine cross-border health insurance project, and banking institutions launched an international group of companies Full-featured cross-border bilateral innovative enterprises FT, such as the RMB fund pooling and the blockchain-based export receivables finance business.


In 2021, the provincial bank insurance system will continue to improve the quality and efficiency of financial services for economic and social development, and fully support the construction of leading industries in the free trade port infrastructure. Focus on optimizing inclusive financial services to meet the reasonable financial needs of private, small, medium and micro enterprises. Improve life support insurance coverage, and increase the coverage and level of protection of Huiqiongbao, an inclusive supplementary health insurance product.


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