Core Insights - The event held by Greentown at Haikou marks a significant opportunity as the island approaches its customs closure, indicating a pivotal moment for investment in Hainan [1][3][15] - The concept of "customs closure" serves as a clear value demarcation, with the pre-closure period representing a "value lowland" for strategic asset allocation [3][15] - The event emphasizes the dual value proposition of the project, combining asset value and lifestyle aesthetics, appealing to elite investors [5][10][13] Asset Value Analysis - The event provided a deep analysis of the asset value of Fengming Guantang, highlighting its unique position as a scarce asset in the context of Hainan's customs closure [8][10] - Insights were shared on how the Hainan Free Trade Port policy benefits can translate into sustainable asset appreciation, particularly in the context of the "dual circulation" economic framework [8][10] - The scarcity of land resources in the Haikou area is underscored as a significant factor in establishing a robust value moat for Fengming Guantang [8][11] Lifestyle Aesthetics - The choice of the Bulgari Hotel in Beijing for the event symbolizes the alignment of Greentown's luxury living philosophy with the brand spirit of Bulgari, emphasizing a shared commitment to elegance and craftsmanship [11] - The collaboration between Greentown and Bulgari reflects a deep understanding of contemporary elite lifestyles, aiming to present Fengming Guantang as a "livable jewel" [11][15] Market Positioning - The event serves as a strong market signal, indicating a transition of Hainan's value from "tourism resources" to "strategic assets" [15] - The gathering of elite investors at the event not only provided insights into the project but also fostered a sense of community among those who recognize the investment potential in Hainan [13][15] - The opening of the Fengming Guantang aesthetic demonstration area in December is anticipated to further solidify its market position as a premium investment opportunity [15]

Group 1 - The company is closely monitoring the policy announcements regarding the operation of the Hainan Free Trade Port, particularly concerning tax implementation details for imported goods [1] - The company has not yet made a definitive judgment on the price competitiveness of imported products due to the lack of specific tax guidelines [1] - The company aims to leverage the opportunities presented by the Free Trade Port policies to enhance regional consumer value and create differentiated offerings [1]

Group 1 - Sanya Phoenix International Airport has surpassed 20 million passenger throughput this year, achieving this milestone 19 days earlier than last year, with a total of 20.0336 million passengers, representing a year-on-year growth of 6% [1] - The airport has successfully opened the Sanya-Vientiane route, marking the first air connection between Sanya and Laos, with the route operated by Airbus A320, featuring three flights per week [1] - Currently, Sanya Airport operates 40 international routes, connecting 31 overseas cities, enhancing air connectivity with RCEP countries [1] Group 2 - The airport plans to continue the trial operation of the aviation port closure project, conducting various scenario drills and maintaining 24/7 operations to ensure effective supervision and efficient circulation [2] - The construction of the T3 terminal is being accelerated, aiming to implement China's first "seventh freedom" route, enhancing infrastructure expansion and route network development [2] - These initiatives are expected to strengthen the operational capacity and regional hub status of Sanya Airport, contributing to the closure operation of Hainan Free Trade Port [2]

Core Insights - Two major banks, China Merchants Bank and Ping An Bank, have signed strategic cooperation agreements with Hainan Holdings, indicating a significant expansion in their collaboration in Hainan province as the region prepares for its free trade port operations [2][4][10] Group 1: Strategic Cooperation - The agreements were signed at the headquarters level, with the presence of senior executives from both banks, highlighting the importance of this collaboration [4][5] - Hainan Holdings aims to leverage this partnership to enhance its financial capabilities and support its core business areas, including airport operations and urban development [7][8] Group 2: Financial and Operational Focus - Ping An Bank has outlined specific areas for cooperation, including comprehensive credit, transaction settlement, retail and technology finance, and industrial collaboration [6][7] - China Merchants Bank emphasized resource synergy and business collaboration to support the high-quality development of Hainan's free trade port [7] Group 3: Broader Banking Landscape - Other banks, such as Nanyang Commercial Bank and Industrial Bank, are also expanding their presence in Hainan, focusing on areas like airport operations and cross-border asset management [8][9] - The upcoming closure of Hainan's free trade port is seen as a historical opportunity for banks to explore various business avenues, particularly in cross-border settlement and trade financing [10][11]

Core Points - The Hainan Free Trade Port is set to officially launch its full island closure operation on December 18, marking a new phase in its development [2][3] - The event in Tianjin gathered over 160 participants, including business representatives and media, highlighting the growing interest in Hainan's development opportunities [2][3] Summary by Sections Development Progress - The overall progress for the closure operation is reported to be smooth, with all preparatory work nearly complete [3] - A comprehensive exercise for the closure operation was initiated on November 18, aimed at enhancing inter-departmental coordination and response capabilities [3] Business Opportunities - Post-closure, the number of "zero tariff" goods will increase from over 1,900 to 6,637, covering nearly all production equipment and raw materials [3] - The corporate income tax rate of 15% will apply to over 1,100 encouraged industries, including biomedicine and offshore wind power, while personal income tax will also be set at 15% across all sectors [3] Collaborative Efforts - A framework agreement was signed last year between Tianjin Free Trade Zone and Hainan Free Trade Port, outlining 24 cooperative initiatives in logistics, tourism, and customs supervision [5] - Both regions aim to collaborate on high-value areas such as marine equipment manufacturing, tourism, healthcare, and green low-carbon initiatives [5] Economic Impact - Hainan's digital economy has seen significant growth, with an annual output exceeding 100 billion yuan [7] - The province is focused on transforming its tourism sector from physical expansion to enhancing its overall capacity [7]

新华财经海口11月21日电（记者陈碧琪）第二届中国（海南）人才交流大会将于12月6日至7日在海口市 海南国际会议展览中心举办。本次大会由中共海南省委、海南省人民政府主办，在2025年底全岛封关运 作和"百万人才进海南行动计划"收官之年的重大节点，以"助力自贸港封关运作共建人才荟萃之岛"为主 题，全面展示海南人才工作成果，汇聚各方英才，共谋发展新篇。 为体现海南自贸港特色，增强各类人才对海南自贸港蓬勃发展态势和独特地域魅力的直观了解，大会专 门组织上百名博士、博士后，上百个成果转化项目和上百家省外高校，深入海南各市县、重点园区实地 考察，推动项目和人才精准落地，直达自贸港建设一线。 作为海南省人才工作的品牌项目和招才引智的核心平台，中国（海南）人才交流大会的举办将助力海南 加快建设"人才荟萃之岛、技术创新之岛"，进一步强化海南集聚人才的"强磁场"效应，为封关运作顺利 实施和全省高质量发展提供坚实的人才支撑。 （文章来源：新华财经） 大会采用"1+4+1+3"架构，即1场开幕式、4场产业和人才对接洽谈会、1场大型招才引智活动以及3 场"海南行"实地考察活动，全方位搭建集思想碰撞、行业研讨、成果展示、人才招引、项目 ...

来源：恒力期货 海南封关运作准备就绪 再有一个月，海南自贸港全岛将正式封关运作。11月18日，海南自贸港10个"二线口岸"同步展开合成演 练。"封关"到底怎么封？将对海南岛内外产生怎样的影响？封关倒计时30天，各项准备工作进展如何？ 首先，封关并非封岛。它是一项自由化便利化的政策制度，是要将海南岛全岛建成一个海关监管特殊区 域，基本特征是"'一线'放开、'二线'管住、岛内自由"。 （来源：恒力期货） 海关总署11月18日举行记者通报会，有关负责人介绍，目前，海南自由贸易港封关运作各项准备工作已 基本就绪。 从11月18日起，海南自贸港"二线口岸"启动了7x24小时热运行。 （来源：央视新闻） 市场信心不足 日本国债遭投资者抛售 当地时间19日，日本新发10年期国债收益率升至1.76%，为2008年6月以来新高。 由于市场担忧日本首相高市早苗提出的扩张性财政政策会导致财政状况进一步恶化，日本国债遭投资者 抛售，长期利率持续上升。 （来源：环球网） "一线"放开，就是将海南自贸港与我国关境外其他国家和地区之间作为"一线"，实施一系列自由便利进 出举措；"二线"管住，就是将海南自贸港与内地之间作为"二线"，针对"一 ...

作为封关前的重要准备，离岛免税政策已于近期率先优化。财政部等部委10月17日联合发布的《关于调 整海南离岛旅客免税购物政策的公告》，从商品品类、享惠人群等多方面实现了突破。 "新政新增2个商品大类，优化调整3个商品细类，并首次将6类国产商品纳入免税范围。"王朔介绍，"同 时，政策将离岛且离境旅客明确纳入享惠主体，并便利岛民消费，允许一年内有离岛记录的岛民不限次 购买'即购即提'商品。" 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2025年12月18日，海南自由贸易港将迎来全岛封关运作的关键节点。这一以制度创新为核心的改革举 措，正推动海南实现更高水平对外开放。随着封关运作进入倒计时，市场关注点逐步从政策预期转向实 际效益的兑现。 "一线放开、二线管住、岛内自由"构建新型监管体系 国投证券商社首席分析师王朔在接受采访时表示，海南封关运作的核心在于"一线放开、二线管住、岛 内自由"的监管设计。她解释道，"一线放开"指海南与境外国家和地区之间实施最大限度自由便利的进 出政策，实现与国际市场的高效对接；"二线管住"指海南与内地之间在"一线"放开的基础上实施精准 化、安全化的管理措施，确 ...

"二线口岸"是连接海南自贸港与内地其他省份的重要通道，包括海口、三亚等地的10个海运和航空口岸。正式封关运作后，海关在"二线口 岸"监管的"零关税"货物等三类货物，要经由专门的通道查验。这次演练按照"全场景模拟、全流程验证"的标准，围绕海关布控查验、放行与 处置等多个核心环节展开。 央视网消息：12月18日，海南自贸港全岛将正式封关运作。11月18日，海南自贸港10个"二线口岸"同步开展合成演练。什么是全岛封关运 作？正式封关运作后有哪些变化？"零关税"货物如何快速进入海南岛？"零关税"的享惠主体是谁？ 记者探访海口新海港和南港 海南省商务厅口岸管理处罗贵生介绍，总体看，本次演练整体进展顺利，多个部门的协同操作顺畅，系统设备运行稳定，进一步检验封关准备 工作的顺畅性与可控性。 硬件设施全竣工验收 信息化项目上线运行 据了解，目前，海南自贸港8个对外开放口岸、64个非设关地综合执法点等硬件设施项目已全部竣工验收，海关智慧监管平台、国际贸易单一 窗口等信息化项目已完成联调联试和上线运行，为保障各类通行对象安全高效便捷进出提供了有力支撑。 此外，封关之后，除海关监管货物从海南自贸港进入内地需要接受查验外，大多数货物 ...

Core Viewpoint - The Hainan Free Trade Port will officially commence its customs closure operations in one month, with significant implications for both internal and external trade dynamics on the island [1] Group 1: Customs Closure Operations - The customs closure is not a closure of the island but a policy aimed at creating a special customs supervision area, characterized by "first line" openness, "second line" control, and internal freedom [1] - The "first line" connects Hainan with foreign countries and regions, allowing for free and convenient entry and exit, while the "second line" connects Hainan with the mainland, requiring precise management [1][3] - The customs operations are set to begin with 10 "second line" ports conducting synchronized exercises, ensuring readiness for the upcoming closure [1][2] Group 2: Regulatory Framework - The customs authority has established a regulatory framework that emphasizes "first line" openness and "second line" control, ensuring efficient management of goods entering and exiting the island [3] - Specific measures include zero tariffs, processing value-added, and exemptions from tariffs for certain goods, which will be managed under a negative list system [4][5] Group 3: Zero Tariff Implementation - The zero tariff policy will allow a significant increase in the number of goods eligible for duty-free entry, expanding from over 1,900 to more than 6,600 tax items [4] - Only qualified entities can import goods under the zero tariff policy, excluding individuals, and goods processed in Hainan with over 30% value-added can enter the mainland without import duties [5] - Internal freedom allows for the flexible circulation of goods within the Hainan Free Trade Port, enabling businesses to trade surplus products among qualified entities [5]