2 1 Shi Ji Jing Ji Bao Dao·2025-12-22 08:01Group 1 - The A-share market opened high and continued to rise, with the Hainan Free Trade Zone concept experiencing a significant surge, leading to multiple stocks hitting the daily limit of 20% increase [2] - The implementation of "zero tariffs" in Hainan's customs regulation is expected to enhance the attractiveness of the region for tourism and consumption, potentially boosting related retail sectors [2] - The number of taxable items has increased from over 1,900 to approximately 6,600, raising the proportion of covered goods from 21% to 74%, which is anticipated to reduce import tax burdens by about 20% for relevant enterprises [2] Group 2 - The new customs regulation system is characterized by "one line open, one line controlled, and free movement within the island," marking a new development phase for the world's largest free trade port [2] - Open-source securities believe that the structural cost reduction and efficiency improvement will enhance the cost structure of operating entities and increase the level of trade liberalization and convenience [2] - The policy dividends are expected to further amplify Hainan's appeal in the tourism and consumption sectors, facilitating the expansion and upgrading of tourism consumption and related retail formats [2]