Core Points - 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] - The "closure" is characterized by a model of "one line open, one line controlled, and free flow within the island," allowing for the free movement of people, goods, and capital while managing risks internally [1] Summary by Categories Policy Changes - A significant increase in the number of zero-tariff products, covering approximately 74% of product categories, benefiting key industries such as pharmaceuticals and high-end food processing [1] - A "double 15%" income tax incentive for qualifying enterprises and core talents, reducing corporate and personal income tax to 15% [1] Impact on Individuals - Travel and business operations in and out of Hainan will remain largely unchanged, with no additional documentation required for individuals [1] - Enhanced tourism services and a wider range of zero-tariff goods available for purchase, improving the overall experience for visitors [1] Strategic Initiatives - Establishing Hainan as a "dual headquarters base" for ASEAN companies entering China and Chinese companies expanding into ASEAN markets [2] - Emphasizing the need for efficient policy implementation, legal support, and reduced bureaucratic hurdles to attract businesses [2] - Focusing on modern high-tech, tourism, and service industries, with a commitment to shortening the negative list for cross-border service trade [2]

Core Insights - Hainan Free Trade Port officially commenced its full island closure operations on December 18, accelerating the realization of its development vision of "people enjoying travel and goods flowing smoothly" [1] Policy Opportunities - The core of Hainan Free Trade Port's policy system includes "zero tariffs, low tax rates, and simplified tax systems," which are essential for facilitating trade, investment, cross-border capital flow, transportation, personnel mobility, and orderly data flow [2] - Key highlights of the tax policy post-closure include: 1. A significant increase in zero-tariff goods, now accounting for approximately 74% of all taxable items, benefiting industries such as pharmaceuticals, high-end food processing, and seed industry [2] 2. The expansion of eligible beneficiaries to cover all entities with actual import needs across the island [2] 3. Upgraded tax exemption policies for processing and value-added, removing restrictions on the main business income of beneficiary enterprises and allowing deductions for self-produced goods from domestic procurement costs [2] Corporate Strategies - Companies are shifting from strategic planning to substantive layouts to seize opportunities presented by the closure, resulting in a scenario of "local enterprises deepening upgrades and external enterprises rushing to enter" [4] - The duty-free retail and tourism service sectors are leading the charge, with Haikou International Duty-Free City launching a "Good Goods Market" featuring various new product categories, achieving rapid sales [4] - Data from Haikou Customs indicates a 27.1% year-on-year increase in duty-free shopping amounts in November, the first month of the upgraded duty-free policy, totaling 2.38 billion yuan [4] Infrastructure and Investment - Port and shipping companies are focusing on channel construction to enhance transportation capabilities, with Haixia Co. leading in passenger and roll-on/roll-off transport, having launched a new comprehensive passenger transport hub [5] - Numerous external companies are targeting the dual benefits of zero tariffs and international markets, with announcements of new investments and expansions, such as Denge Seed Industry planning to invest 30 million yuan in a wholly-owned subsidiary in Hainan [5] - A total of 54 listed companies have issued 129 announcements related to Hainan Free Trade Port this year, indicating strong market interest in the policy opportunities [5] Long-term Planning - Experts suggest that companies should focus on long-term development post-closure, aligning with the industrial direction of the Free Trade Port and considering factors like track selection, resource integration, and risk management [6] - The central government emphasizes the need to build a modern industrial system with Hainan characteristics, aiming to establish an internationally influential tourism consumption center and a processing and storage trading base for agricultural products [6] - Companies investing in Hainan should analyze the advantages of trade, investment, capital flow, and talent exchange in the Free Trade Port to optimize their resource allocation and enhance their competitive edge [6]

Core Viewpoint - Hainan Free Trade Port will officially start full island closure on December 18, 2025, aiming to enhance trade facilitation and establish itself as an international tourism consumption center while continuing the duty-free shopping policy and expanding the product list to meet changing consumer demands [1]. Policy Upgrades for Residents - The duty-free shopping policy for residents has been upgraded since November 1, allowing residents to purchase "immediate purchase and pick-up" items without limit on the number of purchases within a calendar year, provided they have at least one record of leaving the island [4][2]. - The "immediate purchase and pick-up" items are limited to 15 categories, including cosmetics, perfumes, clothing, and bags, with a single item price cap of 20,000 yuan, and an annual duty-free shopping limit of 100,000 yuan per person [6]. Integration of Duty-Free and Other Industries - The integration of duty-free shopping with tourism, culture, and entertainment industries is expected to deepen, promoting diverse consumption forms and creating more job opportunities in Hainan [9]. Talent Attraction and Business Environment - Hainan Free Trade Port offers incentives for attracting talent in key sectors such as tourism, modern services, high-tech industries, and agriculture, including personal income tax exemptions for high-income individuals [11]. - The corporate income tax for encouraged industries in Hainan is capped at 15%, significantly lower than the mainland average, providing a favorable environment for entrepreneurs [17]. - The streamlined process for starting a business allows entrepreneurs to begin operations with a written commitment to meet relevant requirements, reducing bureaucratic hurdles [15]. Future Opportunities - The opening of Hainan as a duty-free zone is expected to create a "national flow entry" for industries like cross-border e-commerce, high-end manufacturing, and logistics, leading to increased job opportunities and a demand for skilled labor [19]. - The policies implemented in Hainan are seen as a model for high-level opening up and can serve as a reference for other regions in China [21].

Group 1 - The core concept of the closure is to establish Hainan Island as a special customs supervision area, implementing a policy system characterized by "one line" opening and "two lines" management [1][9] - The "one line" opening refers to the facilitation of trade between Hainan Free Trade Port and other countries, while the "two lines" management involves precise control over trade with the mainland [1][9] - The closure will not affect domestic travelers, who can continue to visit Hainan without additional documentation, and tourists from 86 countries can still enter visa-free [1][10] Group 2 - The "offshore duty-free" policy has been upgraded, allowing island residents to purchase "immediate purchase and pick-up" goods without limit after one departure record within a calendar year [3][12] - The range of duty-free products has expanded from 45 to 47 categories, including new categories for pet supplies and portable musical instruments [5][14] - Items such as household air purifiers have been reclassified, and additional electronic products have been included in the duty-free list [5][14] Group 3 - For businesses, the number of zero-tariff products has increased from over 1,900 to more than 6,600, significantly reducing import costs [7][16] - New rules for zero-tariff goods state that while they can be imported directly into Hainan, they will be subject to regulation when entering the mainland [7][16] - Hainan is implementing a "double 15%" tax incentive policy, offering a 15% income tax reduction for qualifying enterprises and key talents, enhancing its attractiveness as a free trade port [7][16] Group 4 - Hainan's customs has completed preparations for the closure, with eight open ports and ten "two-line" ports ready for operation [9][18] - A smart regulatory platform and risk warning model have been established to ensure precise management of goods requiring "two-line" supervision [9][18] - Customs will manage over 90,000 foreign trade enterprises based on credit ratings, reducing inspection frequency for high-rated enterprises while increasing scrutiny for high-risk ones [9][18]

Core Viewpoint - The establishment of the Hainan Free Trade Port and its full closure starting December 18 will create significant opportunities for various industries, particularly in manufacturing and new materials, by implementing favorable tax policies such as "zero tariffs" for certain imported goods [2][3]. Group 1: Hainan Free Trade Port Overview - The full closure of Hainan Island will create a special customs supervision area, allowing for a series of liberalized policies that facilitate trade with foreign countries while managing imports from the mainland [2]. - The "zero tariff" policy will apply to certain goods imported into Hainan, significantly reducing costs for manufacturing enterprises that require large amounts of equipment and raw materials [2][3]. Group 2: Tax Policies and Economic Impact - The processing value-added exemption from import duties applies to goods produced by encouraged industries that either do not contain imported materials or have over 30% value added from processing in Hainan [3]. - The total value of goods sold domestically under the processing value-added exemption has exceeded 10 billion yuan, with over 800 million yuan in import duties exempted, enhancing the competitiveness of Hainan's manufacturing sector [3]. Group 3: Expansion of Zero Tariff Goods - The range of goods eligible for the "zero tariff" policy has expanded significantly from over 1,900 items to more than 6,600 items, increasing the proportion of zero-tariff goods from 21% to 74% of all tariff items [3]. Group 4: Benefiting Industries - The petrochemical new materials industry in Hainan is highlighted as a key beneficiary, with a historical high output value projected for 2024 and consistent double-digit growth over the past four years [4]. - The Hainan government is promoting a complete industrial chain from upstream exploration and development to downstream new materials production, focusing on olefins, aromatics, and natural gas [4]. Group 5: Key Enterprises in Hainan - The top enterprises in Hainan's manufacturing sector for 2024 include China Petroleum & Chemical Corporation (Sinopec) Hainan Refining & Chemical Co., with a projected revenue of 7.89 billion yuan, followed by Hainan Natural Rubber Industry Group Co. and Hainan Yisheng Petrochemical Co. [6][7].

Core Viewpoint - The official launch of the Hainan Free Trade Port's full island closure is expected to significantly boost tourism and consumption in Hainan, driven by favorable policies such as duty-free shopping and enhanced international travel accessibility [1][3]. Tourism and Hospitality - Following the closure, popular hotel types in cities like Sanya and Haikou sold out during the first weekend, with family rooms and sea-view suites being the most sought after [3]. - The closure is anticipated to enhance the hotel market, with travel agencies moving towards internationalization due to increased demand from both international tourists and high-end domestic consumers [3]. - The implementation of new duty-free policies has led to a 27.1% year-on-year increase in duty-free shopping amounts in Hainan, reaching 2.38 billion yuan in November 2025 [3]. International Travel and Accessibility - Hainan has expanded its international travel network, launching multiple new routes and reducing check-in times for certain flights, which enhances the convenience for inbound tourists [8]. - The number of countries with visa-free access has increased to 86, and various new visa policies have been introduced to facilitate international travel, contributing to a record high of 1.4 million international passengers at Haikou Meilan Airport [9][10]. Medical Tourism - The "zero tariff" policy for imported medical products is expected to attract international medical resources and enhance the integration of medical and tourism sectors in Hainan [12][13]. - The introduction of personalized medical tourism routes and services is anticipated to increase the appeal of Hainan as a destination for medical tourists, with a reported 64% year-on-year increase in medical tourism visitors to Boao Lecheng [13][14]. Economic Impact - The closure is projected to create a more favorable environment for trade and tourism, potentially making Hainan the largest and most well-regulated provincial duty-free market in China [4][5]. - The combination of favorable policies and geographical advantages is expected to attract more foreign medical institutions and enhance Hainan's position in the global medical tourism market [14].

12月18日，海南自贸港就要启动全岛封关运作了。很多朋友问老王，封关是不是会把岛封起来？以后去海南旅游、做生意会不会受到影响？今天老王就给 大家讲讲，自贸港封关后什么会变，什么不会变。 先说大家最关心的，对于普通人来说，进出海南、旅游购物都没变化。封关不是封岛，咱们国内旅客去海南，照旧。不用办任何额外证件，和封关前一 样。包括英国、法国、德国等86个国家的游客拿着普通护照还是能免签入境。而且，今年11月离岛免税政策刚升级过，免税店里商品种类更多，以后去海 南"买买买"只会更好逛。 还有人关心，"以后从海南寄东西到内地算不算'跨境快递'？"答案是不算，依旧是正常快递。 另外，对去海南工作的朋友来说，原来的个税优惠政策也没变。在海南工作的高端紧缺人才，个税超过15%的部分免征，这个政策会继续执行到2027年 底。 第二个变化，是"零关税"货物进出海南的规则变了。 从国外进口到海南的"零关税"商品，只要符合条件，海关直接放行；不过这些"零关税"商品要从海南再进入内地，就要接受监管了。 比如这里，海口新海港和南港，是货车从海南到内地的代表口岸。在这个集中查验场，全岛封关后，海关监管的"零关税"货物、加工增值免关税货物 ...

Core Viewpoint - The Hainan Free Trade Port will officially start its full island closure operation on December 18, 2025, marking a significant milestone in China's reform and opening-up process, with policies aimed at higher levels of openness to the world [3][4]. Policy Changes - The closure operation represents a systematic and institutional upgrade, significantly enhancing the "zero tariff" level, optimizing processing and value-added tax exemptions, improving the investment environment, and facilitating entry and exit from Hainan [4]. - The "zero tariff" policy will expand from 1,900 tax items to approximately 6,600 tax items, covering about 74% of all product tax items, an increase of nearly 53 percentage points compared to before the closure [9][13]. Tax Incentives - The low tax rate policy, known as the "two 15%" policy, allows qualifying enterprises to be taxed at a reduced rate of 15% on corporate income tax, significantly lowering operational costs [14]. - Individuals classified as high-end or urgently needed talents working in Hainan can also benefit from personal income tax reductions, with any income tax burden exceeding 15% being exempted [19][21]. Comparison with Other Free Trade Ports - Hainan Free Trade Port differs from other international free trade ports like Singapore and Dubai by remaining within China's customs territory, allowing for domestic circulation of goods and easier access for mainland residents [23][24]. - Hainan's unique advantages include its vast market potential, being the largest free trade port globally at 33,900 square kilometers, and a focus on developing a modern industrial system centered on tourism, modern services, high-tech industries, and tropical agriculture [23][24]. Industry Development Focus - Post-closure, Hainan will prioritize the development of tourism, modern services, high-tech industries, and tropical agriculture, while also enhancing high-end shopping, healthcare, and international education sectors [26]. - The digital economy is expected to be a key industry, supported by significant infrastructure developments, including the establishment of the largest data center in Hainan and the world's first commercial underwater data center [27].

海南自贸港封关后，普通交易者在海南开户、进行期货交易有没有变化？国新国证期货副总经理项泓瑜 给出明确答案：海南自贸港封关后，在海南进行期货交易的规则和机制都不会变，依然遵循国家相关法 律法规和交易所规定。 12月18日，海南自贸港将正式启动全岛封关。 海南自贸港封关后，普通交易者在海南开户、进行期货交易有没有变化？海南自贸港吸引外资和方便跨 境投资的金融政策将给期货公司带来哪些机遇？带着相关问题，期货日报记者采访了国新国证期货、中 信建投（601066）期货等机构的专业人士。 期货开户和交易，一切照旧 真正的变化，藏在自贸港政策框架带来的结构性机遇中。 有人可能认为"封关"是"关起门"，其实恰恰相反，"封关"是"开大窗"。对期货市场来说，核心是"跨 境"二字，体现在资金流动、市场开放两大方面。 项泓瑜解释，届时，依托"一线放开、二线管住、岛内自由"的监管框架，海南期货市场将迎来突破。一 方面，跨境资金流动更便利，自贸港推动跨境贸易和投融资结算便利化，有利于境外投资者参与境内特 定品种期货交易和交割。比如，洋浦的天然橡胶期货交割仓库、原油期货交割仓库在封关后依托"一线 放开"的物流便利，交割效率将进一步提升。另 ...

据预测，2026年春运期间，琼州海峡的旅客量预计将达到497万人次、车辆116万台，较往年显著增长。 同时，新能源车辆的渡运占比也持续攀升，预计2026年春运占比将达28%，日渡运量达6200辆，同比增 长100%。 （文章来源：央视新闻） 12月18日，海南自由贸易港将正式启动全岛封关。琼州海峡作为连接粤琼两地的"水上动脉"，其航运安 全与通行效率，直接关系到封关运作的顺利实施。 记者从湛江海事部门了解到，随着封关临近，琼州海峡的客货运量呈现"预热式"增长。数据显示，今年 12月上旬琼州海峡客滚船发班量、旅客及车辆运输量比11月上旬分别增长9%、23%、18%，新能源车运 输量增幅达27%。 ...