Core Insights - The official launch of the Hainan Free Trade Port's full island closure marks a new phase in China's high-level opening-up strategy, enhancing regional supply chain optimization and market integration [1][4] - Hainan's dual advantages of policy and geographical location position it as a "cost lowland" and "policy highland," significantly reducing operational costs for businesses [1][4] Policy Advantages - The proportion of "zero tariff" goods has increased from 21% before closure to 74%, covering approximately 6,600 tariff items, with corporate and personal income tax rates set at a favorable 15% [1][3] - The combination of tariff exemptions for processing and the RCEP origin rules allows for a new industrial chain model, enhancing regional supply chain resilience [1][3] Geographical Advantages - Hainan's strategic location in the South China Sea connects it to major international shipping and air routes, covering 21 countries and regions in Asia within a 4-hour flight, representing about 47% of the global population and 30% of GDP [2][4] - The direct shipping route from Yangpu Port to Indonesia's Batam Port has reduced transport time from 20 days to 6 days, significantly lowering logistics costs [2][4] Standardization and Innovation - Hainan is positioned as a "testing ground" for aligning regional rules and standards, particularly in emerging fields like digital economy and green trade, providing practical rule references for future regional agreements [3][4] - The closure operation signals China's commitment to promoting cooperation through openness, countering unilateralism and protectionism [3][4] Economic Integration - The Hainan Free Trade Port is a significant reform initiative that accelerates East Asian economic integration, transitioning from commodity flow-based openness to institutional openness [4] - Trade with RCEP member countries is steadily increasing, with Hainan's imports and exports to ASEAN projected to reach 57.91 billion yuan in 2024, a year-on-year increase of 62.3% [3][4]
中经评论:东亚区域经济一体化再提速
Jing Ji Ri Bao·2025-12-23 00:03