海南自贸港建设成型起势

Core Insights - Hainan Free Trade Port is progressing towards full island closure operations, marking a significant milestone in its development [1][3] - The "4321" policy framework has been established, enhancing the flow of people, goods, capital, and data, while providing tax incentives and legal protections [1] - The EF account has emerged as a key financial innovation, facilitating over 170 billion yuan in cross-border transactions since its launch [1][2] Policy Framework - The "4321" policy system includes four types of flows (people, goods, capital, data), three areas of trade (goods, services, investment), two tax incentives for businesses and individuals, and one legal foundation through the Hainan Free Trade Port Law [1] - The integration of these policies aims to create a stable and innovative environment for the long-term development of the free trade port [1] Financial Innovation - The EF account, launched in May 2024, has completed cross-border fund settlements exceeding 170 billion yuan, covering 61 countries and regions [1] - The account allows for high levels of capital transfer freedom, aligning with international financial market standards [1] - Companies have reported significant improvements in cross-border transaction efficiency and cost savings due to the EF account [1][2] Economic Development - The aircraft maintenance industry has become a flagship high-end service sector in Hainan, with over 2,300 aircraft serviced since 2022 [2] - The contribution of key industries (tourism, modern services, high-tech, and efficient tropical agriculture) to Hainan's GDP has increased by 13.7 percentage points over the past five years, reaching 67% [2] - Hainan's actual foreign investment has grown by an average of 14.6% annually, surpassing 100 billion yuan, with the economic openness increasing to 35% [2] Symbolic Significance - The decision to initiate full island closure operations on December 18, 2023, symbolizes China's commitment to high-level opening-up and showcases Hainan as a new hub for global investment and entrepreneurship [3]