11月20日 商务部公示消费新业态新模式新场景 试点城市竞争性评审结果 海口成功入选全国50个试点城市之列 根据《财政部 商务部关于开展消费新业态新模式新场景试点工作的通知》要求，支持50个左右城市开展试点工作，主要向人口基数大、带动作用强、发 展潜力好的超大特大城市倾斜。政策实施期为两年。通过消费新业态新模式新场景试点工作，支持试点城市健全首发经济服务体系，创新多元化服务消费 场景，提升消费品质，扩大服务消费，推动更多外贸优品进入国内消费市场，培育消费新增长点，推动消费新业态不断涌现，提升消费活力，更好满足人 民群众多样化、差异化消费需求，为经济高质量发展提供有力支撑。 这份国家级认可的背后 离不开椰城消费潜力的持续攀升 以及海南离岛免税新政的强劲动能 政策动能 离岛免税新政释放红利 PART 01 多种免税商品"上新" 国货首度摆上免税货架 离境旅客享受到免税政策 11月1日起 海南离岛免税新政实施以来 海口各免税经营主体 推出"好物市集"等优惠促销活动 同时备好"即购即提"适用的 一系列热销商品 掀起了一波购物热潮 11月1日，海南离岛免税新政正式实施，cdf海口国际免税城精心打造"好物市集"，为顾客提 ...

免税城购物体验持续升级。目前已形成"线上+线下"融合模式，消费者凭离岛机票、船票或火车票 信息即可购买免税商品；提货方式包括机场和港口自提、邮寄送达、返岛自提等。依托智能物流系统， 商品能够高效送达，购物便利度显著提升。 海南全岛封关运作后，其"零关税"等核心政策将塑造更具成本优势和便利度的贸易环境，有助于吸 引更多国际品牌在琼设立区域总部和物流中心，从而间接丰富免税城的商品种类与供应。 免税城同步 打造海南特色商品专区，陶瓷、茶叶、本土咖啡等国货深受境外游客喜爱，并依托多语种服务团队和多 元支付方式，持续优化跨境消费体验。 在消费升级和封关政策双重驱动下，免税城由"卖商品"加速向"卖体验"转型。免税城一期二号地酒 店项目和三期中免太古里项目正稳步推进，将通过酒店、商业综合体等配套延展"吃住行游购娱"全链条 人民网三亚11月21日电 （孙书宇、徐靖雯、马康美、萨拉）海南自贸港封关运作临近，三亚海棠 湾的cdf三亚国际免税城客流持续攀升。多语种导视、国际支付等服务不断完善，这座以免税商业为核 心的国家4A级旅游景区正成为我国高水平对外开放的窗口。 11月1日起实施的离岛免税新政，将免税商品品类由45大类扩至47 ...

Core Insights - The Hainan sector experienced a strong rally on November 14, driven by favorable policies and expectations of the full closure operation of the Hainan Free Trade Port, with stocks like Kangzhi Pharmaceutical and Hainan Haiyao hitting the daily limit [1][3] - The direct catalyst for this rally was the significant impact of the new duty-free shopping policy, which saw a nearly 35% year-on-year increase in shopping amounts and a corresponding rise in the number of shoppers during the first week of implementation [3] - The Hainan Free Trade Port is set to officially launch its full closure operation on December 18, which is expected to enhance foreign openness and benefit industries such as tourism and retail [4] Market Performance - The Hainan sector has shown strong performance throughout the year, with an overall increase of over 40%, and Haima Automobile leading with a remarkable 164% rise [3] - The net profit of listed companies in the Hainan sector grew nearly 25% year-on-year in the first three quarters, with several companies achieving double-digit growth or successfully turning losses into profits [3] Investment Trends - Leveraged funds have already begun to position themselves in the Hainan sector, with net purchases exceeding 4 billion yuan this year, indicating strong market confidence in the future prospects of the sector [4] - Institutions believe that the duty-free policy will continue to support the consumption market in Hainan, while the full closure operation will open new avenues for economic development [4]

12月18日,海南自贸港将迈入全岛封关运作新阶段。封关并非封岛,而是将海南岛建成海关监管特殊区域, 通过"一线放开、二线管住、岛内自由"的政策制度,释放多重发展红利,惠及企业、个人与区域经济。 企业享惠门槛降低 封关后,海南自贸港企业将迎来政策红利集中释放。"零关税"商品税目将增至约6600个,覆盖约74%的商 品,涵盖几乎所有生产设备和原材料,预计可为进口设备企业节省约20%税收成本,惠及医药、高端食品加 工等重点产业。 享惠主体也将全面扩大,基本覆盖全岛有实际进口需求的各类企事业单位。此前,正大(海南)兴隆咖啡产 业开发有限公司已通过"零关税"原辅料清单扩容政策,进口咖啡豆加工后出口海外,政策红利加速向实体 经济渗透。 加工增值免关税政策同步升级,进一步降低企业享惠门槛。洋浦中熬汤业公司项目负责人于连富表示,这 将提高企业利润,推动上游产业链协同入琼。 民生红利实惠加码 人才政策方面,在海南自贸港工作的高端人才和紧缺人才,个人所得税实际税负超过15%的部分予以免 征。今年起,183天居住时间核算方式优化,因公出差等合理离岛时间可计入,实际居住不少于90天即可享 受优惠。生物技术公司负责人贾心怡算了一笔账, ...

Core Insights - The new duty-free policy in Hainan has shown promising initial results, with sales reaching 506 million yuan and a 34.86% increase in sales compared to the same period last year [1] - The policy marks the tenth optimization of Hainan's duty-free regulations, expanding the range of products and emphasizing the sale of domestic brands [2][3] Sales Performance - In the first week of the new policy, 72,900 shoppers participated, reflecting a 3.37% increase year-on-year [1] - New product categories, including pet supplies and portable musical instruments, accounted for 1,488 items sold, totaling 2.7468 million yuan [1] Policy Changes - The new policy expands the number of duty-free product categories from 45 to 47, adding items such as mobile phones and health foods [2] - A requirement for at least 25% of retail space in duty-free shops to be dedicated to domestic products has been introduced [2] Market Opportunities - The new policy is expected to enhance Hainan's appeal as an international tourist destination, particularly for foreign travelers who can now enjoy duty-free shopping [4] - Duty-free shopping is seen as a key strategy to attract international visitors and boost local consumption [5][6] Regulatory Innovations - Hainan customs have implemented innovative regulatory measures, including credit-based supervision and intelligent monitoring systems, to ensure smooth policy execution [5][6] - The new measures aim to balance consumer convenience with risk management, addressing potential issues like "purchase stacking" [6] Future Prospects - The duty-free policy is anticipated to evolve further, potentially extending benefits to local residents and integrating with broader service trade sectors [7] - There is potential for the duty-free framework to incorporate high-end services such as healthcare and cultural events, creating a comprehensive consumer ecosystem [7][8]

海南离岛免税新政于11月1日正式实施，推动旅游消费持续活跃。数据显示，新政首周海南离岛免税购 物金额达5.06亿元，购物人次7.29万。其中，三亚免税购物金额2.79亿元，同比增长41.11%。 画面来源：三亚广播电视台 【纠错】 【责任编辑:刘子丫】 作者：赵玉和、刘雨田、许雨深 新华社音视频部制作 ...

Group 1: Zero Tariff Policy and Economic Impact - Hainan Free Trade Port welcomed a significant "zero tariff" deal with an Airbus A330-941 aircraft, valued at approximately 807 million yuan, resulting in a tax exemption of about 114 million yuan, marking the highest single exemption under the policy for transportation and yachts [5] - The implementation of the zero tariff policy has led to a notable increase in high-value imports, showcasing the effectiveness of Hainan's trade policies [5] Group 2: Investment and Economic Development - The China Overseas Chinese Business Investment Conference in Hainan signed 38 projects with a total investment exceeding 36.2 billion yuan, highlighting the growing interest and investment opportunities in the region [6] - The conference attracted over 800 overseas Chinese business representatives from 104 countries and regions, emphasizing Hainan's strategic position as a hub for international investment [6] Group 3: Duty-Free Shopping Performance - On the first day of the new duty-free shopping policy, Hainan recorded sales of 78.54 million yuan, with 54,800 items sold to 12,700 shoppers, reflecting a 6.1% increase compared to the previous day [7] - The new policy also introduced additional product categories, including pet supplies and portable musical instruments, contributing to the overall sales figures [7] Group 4: Sports Achievements - Hainan's first gold medal at the 15th National Games was won by cyclist Zhang Hao, marking a significant achievement for the province in competitive sports [8] Group 5: International Events and Participation - The 2025 China (Hainan) International Tropical Agricultural Winter Trade Fair will feature Thailand and Pakistan as the main guest countries, with participation from 16 countries, indicating Hainan's growing international engagement [11]

Investment Rating - The report maintains a "Positive" investment rating for the social services industry [1] Core Insights - Video podcasts are emerging as a new growth curve for content platforms, with significant increases in consumption time and user base [4] - The new duty-free policy in Hainan is showing initial positive effects, with notable increases in shopping amounts and customer spending [14][15] - The sleep health industry in China is experiencing steady growth, driven by consumer preferences for high-quality bedding products [5] Summary by Sections Duty-Free and Trendy Toys - The new duty-free policy in Hainan has led to a 34.8% year-on-year increase in shopping amounts per person, with a 30% increase in average spending [15] - Sanrio's revenue for FY2026Q2 increased by 32% year-on-year, with significant growth in various regions, particularly in Japan and Asia [23][27] - Bandai's revenue for FY2026Q2 reached 343.4 billion yen, a 3.8% increase year-on-year, although net profit decreased by 13.1% due to increased development costs [53][54] Video Podcasts - Bilibili's video podcast consumption time reached 25.9 billion minutes in Q1 2025, a growth of over 270% year-on-year, with user numbers exceeding 40 million [4] - The domestic podcast user base is projected to surpass 150 million by 2025, reflecting a growth of 43.6% year-on-year [4][24] Sleep Health Industry - The market size of China's sleep health industry grew from 261.63 billion yuan in 2016 to 495.58 billion yuan in 2023, with a CAGR of 9.6% [5] - Consumers are increasingly recognizing the importance of bedding products for improving sleep quality, with a significant rise in the frequency of replacing bedding items [5][13]

（文章来源：新华社） 海南离岛免税新政实施首周，旅游消费市场持续升温。据海口海关统计，11月1日至7日，海口海关共监 管海南省离岛免税购物金额5.06亿元，购物人数7.29万人次，同比分别增长34.86%、3.37%。 ...

Core Insights - The new duty-free policy in Hainan, effective from November 1, expands the range of products available for purchase, adding two new categories: pet supplies and portable musical instruments [2][3] - The policy shift reflects a broader focus on both importing goods and promoting domestic products, enhancing the shopping experience for travelers [3][4] Product Categories - The new policy introduces six categories of domestic products, including clothing, ceramics, and local specialties like coffee and tea, which can now be sold in duty-free shops [4][5] - The inclusion of local brands and products aims to showcase the "national trend" and island characteristics, significantly broadening the range of available goods [4][5] Consumer Benefits - The policy expands the eligible consumer base to include departing travelers, allowing them to enjoy a duty-free shopping limit of 100,000 RMB annually without restrictions on the number of purchases [5] - Local residents can now purchase certain duty-free items without needing to leave the island, enhancing their shopping convenience and overall satisfaction [5]