Core Points - Hainan Province will exempt the cultural industry construction fee, which is a government fund based on 3% of the sales revenue from advertising and entertainment services, starting from October 1, 2023 [1][2] - The exemption applies to the entire Hainan Island, excluding Sansha City, and is aimed at supporting the development of the cultural industry in the region [1][2] - The policy does not set an expiration date, providing long-term stability for market participants [2] Summary by Sections - **Policy Background**: The exemption is in accordance with the Hainan Free Trade Port Law, allowing for the reduction or exemption of government funds based on development needs [1] - **Implementation Details**: The tax authority will implement an automated system for the exemption, allowing taxpayers to easily apply and confirm their exemption status [2] - **Cultural Industry Development**: The policy aims to enhance the cultural industry in Hainan, which currently lags behind other advanced regions in terms of scale and quality [2]

Core Insights - The China Asia Economic Development Association delegation visited Sanya to explore investment cooperation opportunities and promote economic exchanges [2] Group 1: Delegation Activities - The delegation visited key locations including the Sanya Central Business District, the "Dual Center" project, and the Sanya International Yacht Center to understand their development status [2] - A招商座谈会 (investment promotion meeting) was held between Sanya and the China Asia Economic Development Association [2] Group 2: Development Opportunities - The delegation expressed that Sanya has experienced rapid development and is a vibrant city suitable for living and working, aiming to leverage the Hainan Free Trade Port's open policy for deeper cooperation [2] - Sanya government officials highlighted the association's international resources and platform advantages, which can bring international elements, entrepreneur resources, and advanced technologies to Sanya [2] Group 3: Future Collaboration - The Hainan Provincial Council for the Promotion of International Trade emphasized its role in connecting government and enterprises, enhancing overseas investment efforts, and supporting the high-quality development of Hainan Free Trade Port [2]

Group 1 - Hainan Free Trade Port is entering the final stage of its full island closure operation, set to officially launch on December 18 this year [1] - The implementation of the free trade port policies is accelerating across various regions and industries in Hainan, with significant progress observed [1] - The Yangpu International Container Terminal is experiencing increased activity, with a focus on container handling and maintenance services [1] Group 2 - The successful completion of the first bonded maintenance service for imported cold chain container parts marks an expansion of Hainan's bonded maintenance policy [2] - The demand for maintenance and inspection services is growing as Yangpu Port enhances its international hub functions and foreign trade routes [2] - Since the release of the Hainan Free Trade Port construction plan in June 2020, various liberalization measures have been implemented, laying a solid foundation for the full closure operation [2] Group 3 - A new special vehicle modification company in Hainan is leveraging the duty-free policy to capture the automotive modification market [3] - The processing and value-added domestic sales duty-free policy will be further optimized post-closure, reducing production costs for enterprises [3] - The attractive policy package includes zero tariffs and tax incentives, encouraging more companies to invest in Hainan [3] Group 4 - A promotional event for private enterprises to participate in the Hainan Free Trade Port construction attracted over 100 companies, resulting in 42 signed projects across various sectors [6] - The Hainan Free Trade Port is seen as a crucial platform for international business, with companies like New Hope Group planning to utilize its financial policies [6] - The arrival of the "Lighthouse Star" cruise ship at Sanya marks a significant milestone in the port's operations, showcasing streamlined customs processes [6] Group 5 - The full island closure operation signifies a new phase in the construction of Hainan Free Trade Port, with a focus on policy implementation and attracting quality investments [6]

Group 1 - The Hainan Free Trade Port is set to officially launch its full island closure on December 18, 2025, enhancing trade and investment facilitation with global markets and improving the business environment for domestic and international enterprises [1][2] - The tax incentive policies under the Hainan Free Trade Port aim to establish a tax system compatible with high-level free trade ports, focusing on "zero tariffs, low tax rates, simplified tax systems, strong rule of law, and phased implementation" [2] - Hainan Free Trade Port is creating two bases: one for Chinese enterprises to access international markets and another for international companies to enter the Hainan market, fostering international business headquarters and attracting high-level talent [3] Group 2 - The financial policies of Hainan Free Trade Port include multi-functional free trade accounts, cross-border fund concentration operation centers, and financing leasing policies for aircraft and vessels, aimed at facilitating cross-border capital flow [2] - Various economic zones in Hainan, such as Haikou Jiangdong New District and Sanya Yazhou Bay Science and Technology City, are promoting investment opportunities in sectors like air economy, offshore trade, and deep-sea technology [3]

Group 1 - Hainan Free Trade Port (FTP) is entering the final stage of its full island closure operation, set to officially launch on December 18 this year [1] - The successful completion of the first bonded maintenance service for imported cold chain container parts marks an expansion of the bonded maintenance policy to the cold chain sector, enhancing international competitiveness for local companies [1] - Since the release of the overall plan for Hainan FTP in June 2020, various policies promoting trade and investment liberalization have been implemented, laying a solid foundation for the full island closure operation [1] Group 2 - As of June this year, Hainan FTP has imported "zero tariff" goods worth 24.16 billion yuan and exempted 4.68 billion yuan in taxes, with the processing and value-added policy expanding to the entire FTP area [2] - The first registered special vehicle modification company in Hainan is leveraging the zero tariff policy to capture the automotive modification market, with plans to expand into recreational and business vehicle modifications [2] - The processing and value-added policy will be optimized post-closure, reducing production costs and stimulating innovation in high-end manufacturing and specialty processing [2] Group 3 - Various tax incentives and liberalization measures are attracting more enterprises to establish a presence in Hainan, with over 100 private enterprises participating in a recent promotional event [3] - New Hope Group plans to utilize Hainan FTP's financial policies to enhance global fund management efficiency and risk control [3] - Infrastructure development is progressing alongside policy implementation, with smart inspection equipment being installed to facilitate "seamless customs clearance" in the future [3] Group 4 - The arrival of the "Lighthouse Star" cruise ship at Sanya marks a significant milestone for the international cruise port, with streamlined inspection processes ensuring smooth passenger clearance [4] Group 5 - The full island closure operation signifies a new phase in Hainan FTP construction, with local authorities focusing on policy implementation to convert benefits into corporate gains and attract quality investments [5]

Group 1 - The issuance of offshore RMB local government bonds by Hainan Province in Hong Kong on September 12, 2023, totaled 5 billion RMB, with various bonds including 3-year sustainable development bonds at 1.73%, 5-year blue bonds at 1.83%, and 10-year aerospace-themed bonds at 2.1% [1] - The bond issuance attracted significant interest from diverse international investors, with peak orders reaching nearly 23 billion RMB, indicating strong confidence in Hainan's credit strength and development prospects [1] - This marks the fourth issuance of offshore RMB local government bonds by Hainan, with funds primarily directed towards marine protection, livelihood security, and key research and infrastructure projects in the aerospace sector [1] Group 2 - The year 2025 is significant for Hainan Free Trade Port as it will officially start its closed operation on December 18, which is a crucial step in enhancing Hainan's role as a key gateway for China's new era of opening up [2] - The continuous issuance of bonds in Hong Kong over the past four years reflects Hainan's commitment to aligning with national policies and accelerating high-quality development in the free trade port [2] - Hainan's finance department emphasizes that the bond issuance is a strategic move to attract international capital for key industry development and to support financial innovation and openness in the free trade port [2]

Core Viewpoint - The article highlights the upcoming changes in Hainan's tourism policies, particularly the introduction of visa-free entry for citizens from certain countries, aiming to enhance Hainan's appeal as a global tourist destination [1][4][6]. Policy Changes - The draft of the "Hainan Free Trade Port Tourism Regulations" has been released for public consultation, signaling a significant policy upgrade to attract international tourists [1]. - A new visa-free policy allows citizens from countries approved by the State Council to enter Hainan without a visa, whether arriving directly at the free trade port or through Hong Kong and Macau [4]. Tourist Protection Measures - The new regulations include strict measures to protect tourists from being overcharged or scammed, with severe penalties for travel agencies that engage in forced consumption or for shops selling counterfeit goods [5]. - A green channel for complaints has been established, requiring authorities to respond within seven days, ensuring tourists feel secure during their visits [5]. Tourism Experience Enhancement - Hainan plans to introduce a variety of new activities such as deep-sea sightseeing, low-altitude skydiving, rainforest education, and aerospace experiences to elevate the tourism experience [5][6]. - The overall message is that Hainan is transforming into a welcoming destination for global travelers, moving beyond its previous image as a domestic vacation spot [6].

Group 1 - Hainan Airlines plans to introduce 52 aircraft between 2025 and 2026, and scale up operations with overlong-range A321XLR aircraft by 2027, aiming for a total fleet of over 1000 aircraft by 2029 [2] - The company has established a comprehensive aviation industry system with a fleet size exceeding 800 aircraft, capturing 15% of the domestic passenger market and 12% of the cargo market [2] - Hainan Airlines has successfully launched over 130 international and regional routes, creating a global route network and contributing nearly 50% of the civil aviation market in Hainan [2] Group 2 - The company aims to leverage the advantages of Hainan Free Trade Port policies to accelerate the development of a comprehensive aviation service network that connects the world [3] - Hainan Airlines plans to capitalize on the opportunities presented by zero tariffs and the lifting of import licensing restrictions post-border closure, transforming policy advantages into industrial competitiveness [3] - The strategy includes extending into the upstream and downstream of the aviation industry chain to build a world-class aviation cluster [3]

Core Viewpoint - The announcement by the Hainan Provincial Taxation Bureau, Provincial Finance Department, and Market Supervision Administration aims to clarify the substantive operation standards for enterprises in encouraged industries within the Hainan Free Trade Port, promoting high-quality development in the region [1][2]. Group 1: Policy Implementation - The policy execution period is set from January 1, 2025, to December 31, 2027 [1]. - The announcement details the criteria for determining substantive operations, including production and management location, personnel, accounting, and assets [1]. Group 2: Substantive Operation Requirements - In terms of production and operation, enterprises must meet one of two conditions: either have their main production and operation location in the Free Trade Port or have a management institution that exercises substantial control over production and operations located in the Free Trade Port [1]. - For accounting management, enterprises are required to store accounting documents and open basic deposit and main business settlement accounts within the Free Trade Port [2]. - The asset requirements stipulate that necessary production and operation assets must be used within the Free Trade Port, with specific considerations for transportation assets and intangible assets like patents [2].

Core Viewpoint - The General Administration of Customs has released regulations for the customs clearance of imported goods in Hainan Free Trade Port, allowing certain goods to be exempt from inspection and quarantine requirements, thus facilitating trade [1] Group 1 - The new regulations apply to bonded goods and "zero tariff" goods that enter Hainan Free Trade Port directly through designated open ports [1] - Goods that fall under the relaxed trade management measures can choose to be subject to the new customs clearance regulations [1] - The regulations aim to streamline the customs process and enhance the attractiveness of Hainan as a trade hub [1]