Hainan Rubber gains approval for cross-border fund center

China Hainan Rubber Industry Group (SSE: 601118) announced that it has received approval from the Hainan Provincial Local Financial Supervision and Administration Bureau to establish a cross-border fund operation center. According to the announcement, this approval enables the company to establish a center within the Hainan Free Trade Port, dedicated to managing both domestic and foreign currency funds for its multinational subsidiaries. The company says the move will allow the company to better allocate global capital, reduce financial costs, and improve risk management. As a global integrated rubber enterprise, Hainan Rubber aims to leverage this center to streamline subsidiary operations, improve fund management capabilities, and support its global business expansion. The company has cautioned investors that the actual implementation may be subject to policy changes.