最近，像这样实战化的压力测试所有与封关之后货物运往内地相关的部门都要参与其中，就是要检测"零关税"货物离岛即将实施的新查验与通行管理方式。 目前，海南自贸港封关任务整体顺利推进，全岛8个对外开放口岸和10个"二线口岸"的各类设备已基本完备，"二线口岸"试运行都已经启动，6项封关政策及 配套13项省内制度文件已全部印发，各项工作正在有条不紊地推进。 央视网消息（新闻联播）：今年的12月18日，海南自贸港全岛封关运作。目前，海南自贸港封关运作准备工作基本就绪。作为自贸港"样板间"，洋浦承接了 全岛超七成的进口货物量。当前，在封关最后冲刺阶段，他们在干什么？来看记者的调研。 记者来到洋浦国际集装箱码头的时候，码头扩建工程正在加紧施工，其中新增的488米岸线和泊位刚刚投入运营就迎来首靠船舶，旁边的堆场也进入了建设 的最后阶段。 李俊铮告诉记者，此次扩建后，码头可满足目前全球最大集装箱船舶靠泊作业需求，年设计通过能力也将提升超30%。这次扩建就是在为封关后，洋浦即将 增长约一倍的"零关税"货物提前做好准备。 全岛封关运作后，"零关税"商品范围将由目前的1900个税目扩大至约6600个税目，比封关前提高了近53个百分点。 ...

Core Viewpoint - The full island closure of Hainan Free Trade Port is a significant milestone that will provide extensive development opportunities for "Global South" enterprises, marking China's commitment to high-level opening-up and the construction of an open world economy [1][4]. Group 1: Opportunities for Global South Enterprises - The full island closure will allow "Global South" enterprises to either provide high-quality products or services to Hainan or invest in establishing entities within Hainan to operate in the Chinese market [1]. - The cost control and policy expectations are the primary concerns for enterprises looking to benefit from the new opportunities presented by the Hainan Free Trade Port [1]. Group 2: Tax Policies and Benefits - The tax system in Hainan Free Trade Port will significantly reduce costs for enterprises, with the "zero tariff" policy expanding from over 1,900 items to 6,637 items, increasing the zero-tariff level from 21% to 74% [2]. - The "zero tariff" policy includes not only import tariffs but also value-added tax and consumption tax, which is a notable difference from many free trade agreements signed by "Global South" countries [2]. - Enterprises importing production equipment typically pay around 5% to 10% in tariffs; however, importing from Hainan Free Trade Port allows for a total tax savings of approximately 20% [2]. Group 3: Low Tax Rate Policies - Hainan Free Trade Port offers a preferential corporate income tax rate of 15% for qualifying enterprises, compared to the standard 25% in China, and a personal income tax rate of 15% with no industry restrictions [3]. - The 15% corporate income tax applies to encouraged industries such as biomedicine and offshore wind power, while high-demand talent across all sectors can benefit from the personal income tax rate [3]. - Enterprises can combine the benefits of "zero tariffs" and "low tax rates," enhancing their profitability and operational efficiency [3].

Investment Rating - The report maintains an "Overweight" rating for the retail industry [1]. Core Insights - The Hainan Free Trade Port has entered the final 30-day sprint phase for its full closure operation, which began on November 18. The port optimization and "second-line" regulatory facility construction are nearing completion, with the expectation of achieving a regulatory framework of "first-line opening, second-line management, and island-wide freedom" [4][9]. - The policy framework post-closure focuses on "zero tariffs, low tax rates, and simplified tax systems." Approximately 6,600 products will benefit from zero tariffs, covering most production equipment and raw materials, allowing companies to save about 20% on import tax costs. Additionally, encouraged industries will enjoy a 15% corporate income tax rate, significantly reducing operational costs [10]. - The adjustment of the duty-free shopping policy for departing island travelers was implemented on November 11, which has led to a 28.52% year-on-year increase in duty-free sales amounting to 1.325 billion yuan as of November 17 [10]. Summary by Sections Industry Viewpoint - The report highlights the operational upgrade of port management as a critical step towards establishing a high-level free trade port system, facilitating the free flow of various elements within Hainan [9]. Market Review - For the week of November 17 to November 21, the retail index decreased by 7.24%, while the overall market indices also experienced declines, with the Shanghai Composite Index down by 3.90% [12]. Company Valuation Table - The report includes a valuation table for various companies, indicating that companies like China Duty Free Group, Wangfujing, and Hainan Airport are expected to benefit from the duty-free shopping policy adjustments [11][19].

Core Viewpoint - The article emphasizes the establishment of a training program for Hainan's Free Trade Port closure policies, aimed at enhancing the capabilities of provincial officials in understanding and implementing these policies [1] Group 1: Training Program Implementation - A specialized training section titled "Hainan Free Trade Port Closure Policy Learning Training" has been launched on the Hainan Cadre Network College platform [1] - The training focuses on various aspects of the Free Trade Port policies, including zero tariffs, cross-border service trade, and cross-border finance [1] - The program aims to provide high-quality online courses that systematically interpret the policies' background, content, operational points, and management requirements [1] Group 2: Future Developments - The Provincial Organization Department plans to continuously enrich the course resources and follow up on new Free Trade Port policies [1] - The initiative is designed to ensure that officials at all levels learn, understand, and apply the policies effectively in their work [1]

Group 1 - The core concept of the "full island closure operation" is to establish Hainan Island as a customs supervision special area, implementing a policy characterized by "open on the first line, controlled on the second line, and free within the island" [4] - The "first line" refers to the open trade between Hainan Free Trade Port and other countries, while the "second line" involves precise management of trade between Hainan and mainland China [4][6] - The "zero tariff" policy means that imported goods are exempt from import duties, value-added tax, and consumption tax, with the scope of zero-tariff goods expanding from over 1,900 to more than 6,600 items, covering approximately 74% of all tariff items [8][10] Group 2 - The zero-tariff goods mainly include production materials such as traditional Chinese medicine, textile raw materials, non-ferrous metal products, and machinery, while personal consumer goods like meat, seafood, cosmetics, clothing, mobile phones, and home appliances will still be subject to import taxes [10] - The beneficiaries of the zero-tariff policy are eligible enterprises, institutions, and certain non-profit educational organizations, while individuals do not qualify for zero-tariff benefits and must pay import taxes on goods processed from zero-tariff items [13]

Group 1 - The concept of "full island closure operation" refers to establishing Hainan Island as a special customs supervision area, implementing a policy characterized by "one line open, two lines controlled, and free flow within the island" [3] - "One line open" means facilitating trade between Hainan Free Trade Port and other countries, while "two lines controlled" refers to managing trade between Hainan and mainland China [3][5] - The "zero tariff" policy allows for the exemption of import duties, VAT, and consumption tax on certain goods, expanding the range of zero-tariff items from over 1,900 to more than 6,600, covering approximately 74% of all product categories [7] Group 2 - The zero-tariff goods include traditional Chinese medicine materials, textile raw materials, non-ferrous metal products, and machinery, primarily focusing on production materials [7] - Personal daily consumer goods such as meat, seafood, cosmetics, clothing, mobile phones, and household appliances will still be subject to import taxes under the taxable goods directory [8] - The beneficiaries of the zero-tariff policy are eligible enterprises, institutions, and certain non-profit educational organizations, while individuals do not qualify for zero-tariff benefits [10]

"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 Insights - The preparation for the Hainan Free Trade Port's full closure operation is on track, with a focus on establishing a robust customs supervision system and risk prevention measures [1][3][8] Group 1: Customs Supervision and Infrastructure - The customs authority has completed the necessary soft and hard infrastructure for the closure operation, including the establishment of a comprehensive customs supervision system [3][4] - Twelve supporting regulations have been developed for the supervision of "zero tariff" goods and other applicable policies, which have been publicly announced [3][4] - The customs supervision system is designed to facilitate efficient and precise management, ensuring a smooth transition to the new operational model [5][8] Group 2: Innovative Regulatory Measures - The customs authority is implementing innovative regulatory measures, including a "batch departure, centralized declaration" model to streamline the customs process [6][8] - A smart regulatory platform has been launched to support the new customs procedures, allowing for efficient tracking and management of goods [6][7] - The processing and manufacturing sectors will benefit from a reduced threshold for tax exemptions on certain goods, promoting industrial development within the free trade port [6][8] Group 3: Market Response and Consumer Behavior - The recent increase in shopping among departing tourists indicates a positive market response to the preparations made by customs authorities [7] - Enhanced digital monitoring systems have been established to ensure compliance and prevent violations in the duty-free shopping sector [7][8] Group 4: Future Outlook and Policy Implementation - The customs authority aims to ensure a smooth transition to the new operational model post-closure, focusing on trade facilitation and effective supervision [8] - Policies will be actively promoted to ensure that market participants can fully benefit from the advantages of the free trade port [8]

Core Points - Hainan Free Trade Port will officially start full island closure on December 18, implementing a customs supervision special zone with a policy of "one line open, one line controlled, and free within the island" [1][2] Customs Supervision System - A customs supervision system has been established, allowing all goods except three categories to exit the island through non-customs supervision channels [2] - The customs operation has upgraded eight open ports and built ten "second line ports," with all facilities ready for use [2] - As of September this year, 129 enterprises have been approved for processing and value-added business pilot qualifications, with a total of 11.08 billion yuan in domestic sales value and 860 million yuan in tax exemptions [2] Simplified Declaration Process - The declaration process for "second line" has been simplified, allowing most goods to exit through non-customs channels, with a new "batch exit, centralized declaration" model [3] - The number of declaration items has been reduced from 105 to 33, significantly improving customs efficiency [3] Tax Policies - The processing and value-added tax exemption policy will be implemented across Hainan Free Trade Port, with relaxed thresholds for enterprises and expanded scope for imported materials [4][5] - The "zero tariff" policy includes imported goods transported to Hainan Free Trade Port, with no additional import taxes for goods entering the mainland [5] Duty-Free Sales Growth - Duty-free sales for departing travelers increased by 28.52% year-on-year following the adjustment of duty-free shopping policies on November 1 [6][7] - New categories of goods have been added to the duty-free shopping list, enhancing the shopping experience for travelers [7]

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]