Core Viewpoint - The article outlines the notification regarding the import taxation commodity list for Hainan Free Trade Port, emphasizing the government's efforts to promote the development of the port and the specific goods subject to import taxes [2][3][4]. Group 1: Import Taxation Commodity List - The import taxation commodity list for Hainan Free Trade Port includes specific goods as detailed in the attached document [2]. - Goods subject to trade remedy measures are also included in the import taxation commodity list [3]. - The Ministry of Finance, General Administration of Customs, and State Taxation Administration will adjust the import taxation commodity list based on comprehensive assessments and actual needs [3]. Group 2: Implementation and Regulations - The notification will take effect from the date of the Hainan Free Trade Port's closure and operational commencement [4]. - The notification is part of a broader strategy to align with tax system reforms and regulatory conditions in Hainan Province [3].

Core Points - Hainan Free Trade Port is set to officially start its full island customs closure operation on December 18, 2025, marking a new development phase for the port [2][3] - The chosen date, December 18, holds symbolic significance as it coincides with the anniversary of the Third Plenary Session of the 11th Central Committee of the Communist Party of China in 1978, which initiated the reform and opening-up policy [2] - The customs closure will establish Hainan Island as a special customs supervision area, implementing a policy of "one line open, one line controlled, and free flow within the island" [3][4] Industry Implications - The customs closure is a landmark project for the Hainan Free Trade Port and represents a significant step towards further opening up the region [3] - The policy will facilitate easier international connections for Hainan, enhancing its ability to attract global quality resources and promoting high-quality development of the free trade port [4] - Currently, 85 countries' personnel can enter Hainan visa-free, and the total tonnage of international vessels registered at Yangpu Port has risen to the second highest in the country [2]

Core Points - The Hainan Free Trade Port is set to officially launch its customs closure on December 18, 2025, establishing the entire island as a special customs supervision area [3] - A series of innovative measures have been introduced since the release of the overall plan for Hainan Free Trade Port in 2020, laying a solid foundation for the customs closure [3][5] - The policy framework will include a "zero tariff" policy for 74% of imported goods, an increase from the previous 21%, and tax exemptions for goods processed and valued-added by 30% [5][7] Policy Measures - More favorable trade management measures will be implemented, allowing for open arrangements for certain currently prohibited or restricted imports [5][7] - Enhanced passage measures will be established, utilizing eight existing open ports as "first-line" ports for the direct release of eligible imported goods [7] - A high-efficiency regulatory model will be adopted for "zero tariff" goods and those benefiting from relaxed trade management, ensuring smooth implementation of open policies [7] Impact on Trade - Post-customs closure, the flow of goods and people between Hainan and international markets will become more seamless, while connections with the mainland will be more efficient [9] - Most goods, personnel, and transportation means entering or exiting Hainan will continue to be managed under existing regulations, with no additional documentation required for travel to Hainan [9]

Core Viewpoint - The Hainan Free Trade Port is set to officially launch its customs closure operation on December 18, 2025, marking a significant step in China's commitment to high-level opening-up and facilitating international trade [1][2]. Summary by Relevant Sections Customs Closure and Policy Framework - The customs closure operation is a landmark project for the Hainan Free Trade Port, aimed at further expanding openness and establishing a special customs supervision area across the island [1][2]. - The closure will implement a policy characterized by "one line" for free access and "two lines" for management, allowing for relative free flow of various factors within the island [1][2]. Key Policy Measures - Four key measures have been outlined for the customs closure: 1. A more favorable "zero tariff" policy for goods, increasing the proportion of zero-tariff items from 21% to 74% [2]. 2. More relaxed trade management measures, allowing for open arrangements for certain previously restricted imports [2]. 3. More convenient passage measures through designated ports, facilitating the flow of goods [2]. 4. A more efficient and precise regulatory model to ensure smooth implementation of the new policies [2]. Taxation and Trade Facilitation - The "zero tariff" policy will cover a broader range of goods, expanding from 1,900 to approximately 6,600 tax items, which constitutes about 74% of all goods [4][5]. - The scope of beneficiaries for the "zero tariff" policy will also expand to include various enterprises and non-profit organizations within the island [4][5]. Operational Efficiency and Management - The customs closure will not hinder the movement of people and goods between Hainan and the mainland, maintaining current management practices with minimal changes [6][7]. - A "one-stop customs clearance" model will be established to streamline the process, along with enhanced smart regulatory measures utilizing big data and AI [7][8].

Core Viewpoint - The Hainan Free Trade Port is set to officially start its closure operation on December 18, 2025, following five years of construction and the establishment of a preliminary policy system [1] Group 1: Tax Policy Changes - After the closure, independent legal entities registered in Hainan Free Trade Port will be exempt from import taxes on goods outside the taxable item catalog [1] - The range of "zero tariff" goods will expand significantly from 1,900 to approximately 6,600 tax items, covering about 74% of all goods, an increase of nearly 53 percentage points compared to before the closure [2] - The threshold for the processing value-added goods to be exempt from tariffs has been lowered, allowing more enterprises to benefit from the policy [2] Group 2: Ongoing Tax Reforms - The Ministry of Finance has introduced multiple tax policies, including duty-free shopping for outbound tourists and preferential corporate and personal income tax rates [3] - The Ministry will continue to implement existing tax incentives to attract high-end talent and quality enterprises to Hainan [4] - The Ministry plans to actively research tax policies for imported goods consumed by local residents, allowing for duty-free purchases of certain imported products [4]

Core Viewpoint - The Hainan Free Trade Port will officially start its closure operation on December 18, with a focus on implementing a competitive tax system to support its development [1][3]. Tax Reform Measures - The Ministry of Finance will implement a step-by-step approach to tax reforms, including zero tariffs, low tax rates, and simplified tax systems, as outlined in the overall plan for Hainan Free Trade Port construction [1][3]. - Current preferential policies for corporate income tax and personal income tax will be maintained to attract high-end talent and quality enterprises to Hainan [3][4]. Expansion of Tax Policies - The range of zero-tariff goods will be expanded, and the list of taxable imported goods will be adjusted as needed [4]. - The duty-free shopping policy for outbound island residents will continue, with adjustments made to meet diverse consumer shopping needs [4]. Consumer Tax Policies - Research will be conducted on tax policies for imported goods consumed by residents on the island, with plans to allow tax-free purchases of certain imported products [4]. - The reform of sales tax, which includes the consolidation of various taxes such as value-added tax and consumption tax, will be advanced steadily and systematically [4].

Core Viewpoint - The Hainan Free Trade Port is set to officially start its customs closure on December 18, 2025, implementing more favorable "zero tariff" policies for imported goods, significantly expanding the range of goods eligible for these benefits [2]. Group 1: Policy Developments - The central government has approved the establishment of a policy system for the Hainan Free Trade Port, which has been progressively developed over the past five years [2]. - The "zero tariff" policy will increase the proportion of eligible imported goods from 21% to 74% after the customs closure [2]. Group 2: Processing and Value-Added Policies - The processing and value-added tax exemption policy has been a significant initiative, with 122 enterprises registered for this policy, resulting in approximately 100.3 billion yuan in internal sales and 8.4 billion yuan in tax exemptions over four years [3]. - The policy allows goods processed in Hainan with over 30% value added to be exempt from import duties when sold to the mainland [3][4]. Group 3: Policy Optimizations - The new policy will lower the threshold for enterprises to benefit, removing the requirement that 60% of total revenue must come from encouraged industries [4]. - The range of eligible imported materials will be expanded to include "zero tariff" goods, enhancing the policy's applicability [4]. - The calculation formula for value-added will be optimized to include the value of locally produced goods, making it easier for enterprises to meet the 30% value-added requirement [4]. - The cumulative value-added calculation will be expanded to allow for value addition across different enterprises, promoting industry chain development [4][5]. Group 4: Overall Impact - The overall adjustments to the processing and value-added policies are expected to lower the barriers for enterprises, broaden the scope of beneficiaries, and better meet the production needs of local businesses, fostering the development of industrial chains and clusters [5].

Core Viewpoint - The Hainan Free Trade Port is experiencing significant growth in foreign investment and trade, with preparations for its operational closure in place [1] Investment and Economic Growth - Hainan Free Trade Port has attracted actual foreign investment of 102.5 billion yuan, with an average annual growth rate of 14.6% [1] - The region has seen foreign direct investment of 9.78 billion USD, with an impressive average annual growth rate of 97% [1] - A total of 8,098 new foreign-funded enterprises have been established, reflecting an average annual growth of 43.7% [1] Trade Performance - Goods trade and service trade have experienced average annual growth rates of 31.3% and 32.3%, respectively [1] - The economic openness of Hainan has increased, with investments from 176 countries and regions, raising the economic external degree to 35% [1] Visa Policy - Hainan boasts the most favorable visa exemption policy in the country, allowing visa-free entry for citizens from 85 countries [1]

Core Viewpoint - The establishment of a "zero tariff" policy in Hainan Free Trade Port marks a significant step towards trade liberalization and facilitation, with a comprehensive tax policy framework set to be implemented upon the port's closure [1][2]. Group 1: Tax Policy Changes - The new tax policy will implement a "zero tariff" system as the core of the goods trade liberalization, integrating existing "zero tariff" policies into a new framework [1]. - The policy includes three main components: exemption from import taxes for goods outside the import tax list for registered independent legal entities and qualifying organizations, free circulation of "zero tariff" goods and their processed products within the island, and exemption from import duties for goods produced by encouraged industries with over 30% value addition when entering the mainland [1]. Group 2: Policy Enhancements - The coverage of "zero tariff" goods will significantly increase from 1,900 to approximately 6,600 tax items, representing 74% of all goods, with a shift to a negative list management approach [2]. - The beneficiaries of the policy will expand from only registered independent legal entities and institutions to include all entities with actual import needs across the island [2]. - Restrictions on the policy will be relaxed, allowing "zero tariff" goods and their processed products to circulate freely among beneficiaries without the need to pay import taxes, enhancing the competitiveness of the local industry and promoting industrial clusters [2]. Group 3: Implementation and Future Outlook - The Ministry of Finance will monitor the implementation of these policies and make adjustments based on market feedback, collaborating with the Hainan provincial government to enhance services and management [2]. - Previous "zero tariff" policies on raw materials, transportation tools, and self-use production equipment have laid a foundation for the new system, contributing to a higher level of openness for Hainan Free Trade Port [2].

Core Viewpoint - The establishment of the Hainan Free Trade Port is set to officially commence on December 18, 2025, aiming to enhance openness and promote high-quality development, with a focus on facilitating international and domestic exchanges [1]. Group 1: Policy Measures - The current closure policy measures can be summarized as "Four More": 1. Implementation of a more favorable "zero tariff" policy for goods, increasing the proportion of "zero tariff" items from 21% to 74% for "first-line" imports [2]. 2. More relaxed trade management measures, allowing for open arrangements for certain prohibited and restricted imports [2]. 3. More convenient passage measures, utilizing eight existing open ports as "first-line" ports and establishing ten "second-line" ports for innovative passage measures [2]. 4. More efficient and precise regulatory models, ensuring low intervention and high efficiency for "zero tariff" goods and relaxed trade management goods [2]. Group 2: Key Features of the Free Trade Port - The key features of the Hainan Free Trade Port can be summarized as "4, 3, 2, 1": - "4" refers to the convenience of the flow of people, goods, capital, and data, with 85 countries' personnel eligible for visa-free entry [3]. - "3" indicates accelerated openness in goods trade, service trade, and investment, with the highest level of foreign investment access in the country [3]. - "2" highlights increased tax incentives for enterprises and individuals, with tax reductions exceeding 310 billion yuan for enterprises and 170 billion yuan for individuals [3]. - "1" signifies the continuous improvement of legal guarantees based on the Hainan Free Trade Port Law, with over 40 supporting regulations established [4]. Group 3: Import and Export Regulations - The Ministry of Commerce has developed a comprehensive list of prohibited and restricted import and export goods, clarifying management boundaries for businesses [5]. - The list cancels import licenses for 60 old mechanical and electrical product codes, covering about 80% of products under import license management, meeting the production needs of Hainan enterprises [5].