Group 1 - The first batch of zero-tariff value-added goods successfully cleared customs, marking the effective implementation of the policy benefits from the Hainan Free Trade Port [1][2] - The successful customs clearance provides replicable and promotable practical experience for the development of related industries in Hainan Free Trade Port, attracting upstream and downstream enterprises and promoting the continuous extension and upgrading of the petrochemical industry chain [2] - The negative list management implemented after the closure has expanded the range of "zero-tariff" goods from 1,900 tax items to over 6,600 tax items, significantly reducing production costs for companies [2] Group 2 - Hainan Refining and Chemical Co., as a key base for imported crude oil processing and finished oil exports, has achieved an industrial output value exceeding 950 billion yuan and tax contributions exceeding 140 billion yuan since its inception [4] - The collaboration between Hainan Refining and Weida Chemical has created a tighter bond through cumulative value-added processing policies, allowing for a reduction of 400 yuan per ton in raw material costs for polyethylene and polypropylene [4] - The cumulative value-added processing policy allows for the calculation of benefits across the entire industry chain, enhancing product value and enabling more enterprises to share in the policy dividends [2][4]

海南封关首日见闻：第一批外籍人士领取就业许可、居留许可 中新网儋州12月18日电 (记者 王子谦)"办理速度特别快，15日提出申请，今天就拿到工作许可。"18日 上午，外籍人士SAUD KHAN在洋浦经济开发区政务服务大厅"涉外服务专区"领取了外国人来华工作许 可。 12月18日，海南自贸港正式启动全岛封关。当天上午，包括SAUD KHAN在内的5位外籍人士在洋浦领 取了外国人来华工作许可和居留许可。 另一位外籍人士MUHMMAD ABBAS今天领取了居留许可。他告诉记者，在洋浦办理业务流程非常 快，"我在这里感受到了海南面向全世界的开放。" 12月18日，海南全岛封关后第一批外籍人士在海南洋浦经济开发区领取了外国人来华居留许可。中 新网记者 王子谦 摄 在海南自贸港，有越来越多的外籍人士为机遇而留。儋州市国际人才工作站站长万海容表示，目前该市 外籍人士来华工作许可和居留许可审批时限较之前压缩40%，在此工作的外籍人士包括新加坡、韩国等 11个国家。 12月18日，海南全岛封关后第一批外籍人士在海南洋浦经济开发区领取了外国人来华工作许可。中 新网记者 王子谦 摄 外国人来华许可办理服务工作是海南自贸港对外国人 ...

Core Viewpoint - The official launch of the Hainan Free Trade Port (FTP) has initiated a series of special policies, including "zero tariffs, low tax rates, and simplified tax systems," which are expected to accelerate the gathering of high-end processing manufacturing and international trade industries in Hainan, creating more opportunities for shipping and airline companies [3]. Group 1: Airline Developments - Hainan Airlines has launched new routes, including the "FTP Express" flight from Haikou to Shanghai and an international flight from London to Haikou, reflecting the airline's strategy to enhance connectivity between Hainan and major domestic and international hubs [5]. - Since November, Hainan Airlines has increased its international and regional flights by 78, including routes to London, Auckland, Sydney, Melbourne, and Moscow, as well as a route to Kuala Lumpur [5]. Group 2: Shipping Developments - COSCO Shipping has established 25 container shipping routes from Haikou and Yangpu, with 8 domestic routes connecting major coastal ports and 17 international routes reaching key regions in the Americas and Southeast Asia [5]. - The transshipment business at COSCO Shipping's operations in Hainan has seen explosive growth, with a 293% year-on-year increase in transshipment container volume at Yangpu International Container Terminal from January to November [6]. Group 3: Tax Benefits - COSCO Shipping has benefited from tax incentives, including a 15% corporate income tax rate, which has positively impacted the company's profits [8]. - Hainan Airlines has saved over 50 million yuan in taxes through the import of aircraft materials, and the introduction of new aircraft is expected to save up to 16 million yuan in tariffs during the lease period [8]. - The scope of tax incentives in the Hainan FTP is expanding, with zero-tariff items increasing to approximately 6,600, covering nearly all production equipment and raw materials, further reducing costs for companies [9].

Group 1: Core Insights - The Hainan Free Trade Port has officially launched its full island closure with the implementation of "zero tariffs, low tax rates, and simplified tax systems," benefiting shipping and aviation companies [1][5] - Companies like COSCO Shipping Group and Hainan Airlines are rapidly expanding their route networks in Hainan, taking advantage of the free trade port's policies [1][2] Group 2: Aviation Developments - Hainan Airlines has initiated new routes, including the "Free Trade Port Express" from Haikou to Shanghai and international flights from London to Haikou, reflecting the airline's strategy to enhance connectivity [2] - Since November, Hainan Airlines has added 78 international and regional flights, including routes to major cities like London, Auckland, Sydney, and Moscow [2] Group 3: Shipping Developments - COSCO Shipping has established 25 container shipping routes from key ports in Hainan, with 8 domestic routes and 17 international routes connecting to critical regions like the Americas and Southeast Asia [2] - The company has experienced a significant increase in transshipment business, with a 293% year-on-year growth in transshipment container volume at Yangpu International Container Terminal [3] Group 4: Tax Benefits - COSCO Shipping has benefited from tax incentives, reducing costs for ship and equipment procurement, with a 15% corporate income tax rate enhancing profitability [4] - Hainan Airlines has saved over 50 million yuan in taxes through the import of aircraft materials, with potential savings of up to 16 million yuan on new aircraft due to "zero tariffs" [4] - The implementation of broader tax incentives in the Hainan Free Trade Port is expected to lower costs further for companies importing production equipment and raw materials [5]

即推动旅游业、现代服务业、高新技术产业、热带特色高效农业四大主导产业补链延链、优化升级； 持续推进向种图强、向海图强、向天图强、向绿图强、向数图强"五向图强"； 创新发展生物制造、氢能、脑机接口、具身智能等"四新"未来产业； 在封关前夕，各项软硬件准备工作已全面就绪。自今年9月起，海南启动了10个"二线口岸"的试运行，并在11月18日进入封关运 作合成演练和7×24小时热运行阶段。12月上旬，海口新海港和南港"二线口岸"(货运)集中查验场顺利通过了封关前最后一轮压力 测试。第三方测评显示，通关流程已更加顺畅、有序，能够满足大多数经营主体的通关需求。 封关运作带来的最直接变化，是"零关税"政策红利的全面扩大与深化。根据财政部、海关总署、税务总局联合发布的政策，"零 关税"商品范围已从原有的部分清单大幅扩展至约6600个税目，"零关税"商品比例达到74%，这意味着绝大多数进口商品进入海 南都将免除包括进口关税、进口环节增值税和消费税。 封关不是终点，而是产业跃升的新起点。未来海南将围绕"45432"发展架构，推动构建具有海南特色和优势、梯次布局的现代化 产业体系。 视频、设计丨王学权王冰 12月18日，海南自由贸 ...

Core Viewpoint - The official launch of the Hainan Free Trade Port marks a new phase of higher-level openness, establishing Hainan as a significant gateway for China's new era of foreign trade [1][2]. Group 1: Policy and Operational Changes - Hainan has implemented a "zero tariff" policy, expanding the range of zero-tariff goods to approximately 6,600 tax items, which accounts for 74% of imported goods, exempting them from import duties, VAT, and consumption tax [1]. - The preparations for the port's closure included the trial operation of 10 "second-line ports" starting in September, with successful pressure tests conducted in early December [1]. Group 2: Future Development Framework - Hainan will focus on a "45432" development framework, enhancing four main industries: tourism, modern services, high-tech industries, and tropical agriculture [2]. - The province aims to innovate in future industries such as biomanufacturing, hydrogen energy, brain-machine interfaces, and embodied intelligence [2]. Group 3: Investment Opportunities - The Hainan Free Trade Port's closure is seen as a milestone for foreign trade, with potential investment opportunities in modern services like tourism, exhibitions, transportation, and finance, as well as in marine economy, aerospace, duty-free shopping, and high-end healthcare [2]. - Specific sectors expected to benefit include companies with significant foreign trade operations, infrastructure firms involved in the port's development, tourism-related businesses, and local enterprises enjoying tax benefits [2]. Group 4: Market Performance of Related Companies - Notable companies include Hainan Airlines, which has a market cap of 756.77 billion and a year-to-date change of 2.94%, and China Duty Free Group, dominating 85% of the duty-free market in Hainan with a market cap of 1,630.63 billion and a 21.44% increase [3]. - Other companies like Hainan Airport and Hainan Development have also shown significant market movements, reflecting the potential growth in the region due to the new policies [3].

Core Viewpoint - The Hong Kong stock market is experiencing a decline, with the Hang Seng Index down by 0.54% and the Hang Seng Tech Index down by 1.11%. The upcoming full closure of Hainan Free Trade Port is expected to create new consumption opportunities due to policy optimizations [1] Group 1: Market Performance - The Hong Kong stock market opened with the Hang Seng Index falling by 0.54% and the Hang Seng Tech Index decreasing by 1.11% [1] - The Hong Kong consumption sector is showing narrow fluctuations, with the Hong Kong Consumption ETF (513230) dropping over 0.5% [1] - Notable declines were observed in stocks such as 康耐特光学, 泡泡玛特, 毛戈平, 上美股份, and 思摩尔国际, while stocks like 新秀丽, 百胜中国, and 珍酒李渡 showed gains [1] Group 2: Policy Changes - Starting from December 18, 2025, Hainan Free Trade Port will officially implement a full closure, marking a new phase in its development [1] - A series of policies including import tax item catalog, goods circulation tax policies, and customs supervision measures will be implemented simultaneously [1] - The closure is aimed at expanding open fields and continuously improving the policy system to establish Hainan as a significant gateway for China's new era of opening up [1] Group 3: Investment Opportunities - 中信证券 highlights that the optimization of the duty-free policy and the impending closure of Hainan create potential consumption growth opportunities [1] - Key areas of focus include high-end consumption sectors such as outbound tourism, hotels, gaming, duty-free shopping, luxury goods, high-end beauty care, and premium real estate [1] - Related popular ETFs include the Tourism ETF (562510) driven by holiday catalysts and ice and snow economy, the Food and Beverage ETF (515170) aimed at boosting domestic demand, and the Hong Kong Consumption ETF (513230) focusing on e-commerce leaders and new consumption trends [1]

Core Points - The core idea of the article is to clarify the concept of "closure" in the context of Hainan Free Trade Port, emphasizing that it is not a "closure of the island" but rather a new model of "opening up externally while managing internally" [1][2] Summary by Sections Policy Changes - The number of goods eligible for "zero tariffs" will significantly increase, covering approximately 74% of product categories, benefiting key industries such as pharmaceuticals and high-end food processing [1] - A "double 15%" income tax incentive will be available for qualifying enterprises and core talents, allowing both corporate and personal income tax to be reduced to 15% [1] Impact on Individuals - Individuals will not face significant changes when entering or exiting Hainan; travel and business activities will remain largely unaffected, with no additional documentation required [1] - The availability of more "zero tariff" goods and improved tourism services is expected, enhancing the overall experience for visitors [1] Strategic Goals - The primary goal of the closure is to position Hainan as an important open gateway to ASEAN, leveraging its geographical advantages to facilitate cooperation between China and ASEAN [2] - Key initiatives include establishing Hainan as a "dual headquarters base" for both ASEAN and Chinese enterprises, improving policy implementation and efficiency, and focusing on modern high-tech, tourism, and service industries [2] - The reduction of the "negative list" for cross-border service trade is aimed at increasing business opportunities and investment attractiveness [2]

Group 1 - The full closure of Hainan is a significant milestone in the construction of the Hainan Free Trade Port and represents another major initiative by China to expand high-level opening-up [4] - The "zero tariff" benefits are expanding, covering approximately 74% of product tax categories, with no changes to entry/exit island or tourism shopping, and no additional documentation required [3] - The scope of bonded maintenance has increased by 38 product tax categories, with tax burdens for high-end personal goods not exceeding 15% [3] Group 2 - The "two headquarters base" policy aims to enhance the development of Hainan as a core hub for trade between China and ASEAN [3] - The upgraded duty-free policy for offshore islands will provide a wider variety of products [3] - Residents, tourists, and investors are encouraged to pay attention to these changes to seize policy dividends and development opportunities [4]

Core Insights - The core objective of the "closure" is to transform Hainan into an important open gateway to ASEAN, leveraging its geographical advantages to facilitate cooperation between China and ASEAN [2] Group 1: Policy Changes - The "closure" does not mean isolation but rather a new model of "open for business externally, controlled internally, and free movement of people, goods, and capital within the island" [1] - A significant increase in the number of zero-tariff goods will cover approximately 74% of product categories, benefiting key industries such as pharmaceuticals and high-end food processing [1] - A "double 15%" income tax incentive will be available for qualifying enterprises and core talents, reducing corporate and personal income tax to 15% [1] Group 2: Impact on Individuals - Individuals will not face additional hassles when entering or exiting Hainan, with only some goods requiring checks when entering the mainland [1] - Enhanced tourism services and a wider range of zero-tariff goods will improve the overall experience for visitors to Hainan [1] Group 3: Strategic Initiatives - Hainan aims to become a "dual headquarters base," allowing ASEAN companies to establish headquarters in Hainan for easier access to the Chinese market and vice versa for Chinese companies [2] - The focus will be on improving policy implementation, efficiency, and legal support to encourage businesses to operate in Hainan [2] - The emphasis will be on developing modern high-tech, tourism, and service industries, with a commitment to reducing the negative list for cross-border service trade [2]