Caixin: China's Hainan Free Trade Port Will Not Become a Financial “Experimental Field” for Bitcoin and Stablecoins

BlockBeats News, December 29th, according to Caixin, Hainan Island has officially started closed-loop operation. Its geographical advantage lies in its proximity to the domestic large market as the world's second-largest economy, surpassing Hong Kong in physical space and area. However, the Hainan Free Trade Port complements Hong Kong, with Hong Kong serving more as a global trade center, while Hainan serves as a node and hub facing both domestic and international markets. In terms of finance, the two will also have functional mismatches. For example, financial "experiment fields" such as Bitcoin and stablecoins will be placed in Hong Kong rather than Hainan.