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Caixin: Bitcoin, Stablecoins Will Not Be Placed in Hainan Financial "Test Field"

2025.12.29 12:27:38

On December 29, Caixin reported that Hainan Island has officially launched closed-loop operations. Hainan’s geographic advantage lies in its proximity to the massive domestic market of the world’s second-largest economy, and it is larger than Hong Kong in physical size and area. Yet the Hainan Free Trade Port (FTP) complements Hong Kong: Hong Kong functions primarily as a global trade center, while Hainan serves as a node and hub linking both domestic and international markets. In finance, the two will also have complementary roles rather than overlapping ones. For example, financial test beds like Bitcoin and stablecoins will be based in Hong Kong—not Hainan.
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