Core Viewpoint - The implementation of the full island customs closure in Hainan will significantly impact the construction of the Hainan Free Trade Port, leading to three changes and three constants in the region's economic landscape [1]. Group 1: Changes - The development space for enterprises will expand significantly, with a substantial increase in the range of "zero tariff" goods and further relaxation of import and export management, reducing costs for businesses and enhancing integration into global supply chains [2]. - The convenience and diversity of people's work and life will improve, allowing individuals to purchase a wider variety of duty-free goods and providing more opportunities for international exchange and cooperation [2]. - Government management and services will become more precise and efficient, with a significant reduction in "first-line" management steps and the use of intelligent methods for "second-line" management, leading to enhanced overall service efficiency [2]. Group 2: Constants - The direction of expanding openness will remain unchanged, as the customs closure is aimed at creating a more open environment with higher levels of openness and better business conditions [3]. - The convenience of travel between Hainan and the mainland will not change, with personnel movement managed according to existing regulations without the need for additional documentation [3]. - The commitment to maintaining safety will remain unchanged, with a focus on preventing major risks during the implementation of the customs closure policy to ensure the correct and healthy development of the Hainan Free Trade Port [3].

Core Viewpoint - The article discusses the launch of a legal awareness campaign titled "Legal Protection for Free Trade Port: Together Building the Closure Road," aimed at supporting the timely operation of the Hainan Free Trade Port's full island closure [1] Group 1: Campaign Details - The campaign will run from mid-August to mid-December and is part of the province's "Eighth Five-Year" legal publicity final evaluation work [1] - It aims to promote the understanding and dissemination of relevant laws, regulations, and policies throughout society [1] Group 2: Activities and Engagement - Various departments will organize activities in key areas such as Haikou Jiangdong New District and Hainan Free Trade Port Digital Innovation Park, providing legal consultation services on talent introduction, market access, and business registration [1] - The campaign will utilize a volunteer team to conduct legal knowledge lectures, quizzes, and consultation services in densely populated areas to educate the public on legal issues related to tax-free shopping, labor rights, and immigration [1] - Central and provincial mainstream media will be involved in interviewing grassroots units in five cities and counties to showcase innovative measures in the "Eighth Five-Year" legal publicity work [1]

Core Points - The meeting emphasized the importance of implementing the spirit of the Provincial Party Committee's 7th Plenary Session, particularly in relation to improving people's livelihoods and responding to public expectations regarding the Hainan Free Trade Port [3]. Group 1 - The Provincial Political Consultative Conference (PPCC) held its 56th Party Group Meeting and 47th Chairperson Meeting to discuss the implementation of the Provincial Party Committee's directives [2]. - The meeting highlighted the need to focus on new goals, tasks, and requirements set forth by the Provincial Party Committee, particularly in key areas related to people's livelihoods [3]. - The PPCC aims to enhance its role in democratic supervision and effectively respond to public sentiment by conducting thorough research and consultations [3]. Group 2 - The meeting called for the active participation of CPPCC members in addressing public concerns and improving livelihoods through community engagement and service activities [3]. - The leadership of the PPCC, including Vice Chairpersons and the Secretary-General, attended the meeting, indicating a unified approach to the discussed initiatives [4].

Core Viewpoint - The discussion led by Li Rongcan emphasizes the importance of enhancing the quality of life for citizens in the context of the Hainan Free Trade Port's upcoming full island closure operation, highlighting the government's commitment to addressing public needs and ensuring a stable social environment [2][3]. Summary by Sections Government Initiatives - The Hainan Provincial Committee has issued a draft opinion aimed at improving the level of public welfare and enhancing citizens' sense of gain from the Free Trade Port construction [2]. - The full meeting reflects a systematic deployment for the development of public welfare, responding to societal expectations and aligning with major national policies [2]. Political Responsibility - The Provincial Political Consultative Conference will actively engage in political responsibilities, focusing on public welfare and guiding members to conduct in-depth research and provide constructive suggestions [3]. - The organization aims to ensure the implementation of the meeting's objectives and contribute to the Free Trade Port's development by acting as a supporter and practitioner of the discussed policies [3].

Core Viewpoint - The Hainan Free Trade Port will officially start its island-wide customs closure operation on December 18, 2025, marking a significant milestone in China's commitment to high-level opening-up and economic globalization [1][2]. Group 1: Significance of the Announcement - The announcement reflects the central government's high regard for the Hainan Free Trade Port, emphasizing its role as a major national strategy personally planned and promoted by President Xi Jinping [1][2]. - The event signifies a clear timeline and scope for the customs closure, aligning with the overall plan for Hainan's free trade port construction, thus providing stability and confidence to stakeholders [3][4]. Group 2: Policy Support and Economic Impact - The government has outlined a series of favorable policies, including a "zero tariff" policy that will expand from approximately 1,900 to about 6,600 tax items, increasing the proportion of zero-tariff items to 74%, a rise of nearly 53 percentage points [4]. - The Hainan Free Trade Port aims to become a new frontier for China's opening-up, a new hub for regional cooperation, and a new engine for promoting economic globalization [5][6]. Group 3: Preparedness for Customs Closure - Various departments have coordinated to ensure that policies related to customs closure, such as import tax item directories and processing tax exemptions, are well-prepared [7][8]. - Infrastructure and information systems necessary for customs operations have been completed and passed national assessments, indicating readiness for the upcoming changes [8][10]. Group 4: Future Directions and Implementation - The focus will be on implementing policies effectively, enhancing the sense of gain for businesses and the public, and fostering an innovative institutional framework [12]. - The government has set specific targets for industrial development, consumer sectors, and talent attraction, encapsulated in the numbers "4532," which represent key areas for growth and optimization [12][13].

Core Points - The Hainan Free Trade Port will officially start its full island closure operation on December 18, 2025, marking a significant milestone in China's commitment to high-level opening-up [1][2] - The initiative is part of a broader strategy to enhance trade liberalization and facilitate economic globalization, demonstrating China's unwavering determination to expand its openness despite external challenges [2][3] - The full island closure operation is a complex system project that requires effective policy implementation to enhance the competitiveness and influence of customs supervision in the region [3] Summary by Sections Hainan Free Trade Port Development - The full island closure operation is a landmark project for the Hainan Free Trade Port, aimed at implementing high-level trade liberalization policies across the island [2] - The initiative is aligned with international high-standard economic and trade rules, contributing to the construction of a high-level socialist market economy [2] Policy and Infrastructure Readiness - Hainan has made significant progress in policy framework construction, infrastructure development, and risk prevention systems in preparation for the full closure operation [2] - The province has completed necessary soft and hard conditions and is currently conducting pressure testing exercises to ensure readiness [2] Implementation and Future Outlook - The successful implementation of the full island closure operation is crucial, requiring a focus on enhancing the benefits for businesses and the public, as well as optimizing policy design [3] - The operation is expected to create a new frontier for China's opening-up, fostering regional cooperation and driving economic globalization [2][3]

Core Points - The central theme of the news is the upcoming full island customs closure operation in Hainan Free Trade Port, scheduled to officially start on December 18, 2025, which marks a significant step in expanding openness and establishing a policy system for the free trade port [1][2]. Group 1: Full Island Customs Closure Operation - The full island customs closure operation is a landmark project for Hainan Free Trade Port, aimed at further expanding openness [2]. - The operation will implement a policy characterized by "one line open, one line manage, and free flow within the island" [2]. - The "one line open" policy will allow for a series of free and convenient measures for imports from outside China, while the "one line manage" will involve precise management of imports from the mainland [2][3]. Group 2: Policy Measures and Changes - The customs closure will introduce more favorable policies, including a "zero tariff" policy for goods imported from the "one line" [3][5]. - The proportion of goods eligible for "zero tariff" will increase from 21% to 74%, allowing for tax-free circulation of goods that have undergone processing and value addition of 30% or more [3][5]. - Trade management measures will be relaxed, allowing for more open arrangements for certain previously restricted imports [3]. Group 3: Impact on Trade and Travel - Post-closure, most goods and all personnel will continue to enjoy convenient access to and from Hainan, with enhanced travel experiences for visitors [4]. - The customs will implement efficient and precise supervision, ensuring smooth implementation of the new policies [4][5]. - The customs will adopt a "batch exit, centralized declaration" model for certain goods, improving customs efficiency [5]. Group 4: Economic Development and Investment - The closure is expected to significantly enhance the coverage of "zero tariff" goods, expand the range of beneficiaries, and relax policy restrictions, thereby lowering production costs and stimulating market vitality [5][6]. - Hainan aims to build a modern industrial system with unique advantages, focusing on tourism, modern services, high-tech industries, and tropical agriculture [6]. - Over the past five years, Hainan has seen substantial foreign investment and trade growth, indicating a positive trend in its economic development [6]. Group 5: Government Support and Future Plans - The Ministry of Commerce will continue to support the construction of Hainan Free Trade Port by aligning with international high-standard trade rules and enhancing the level of institutional openness [7]. - Targeted policies will be introduced to promote the innovative development of goods trade, service trade, and digital trade, leveraging Hainan's resource endowments and geographical advantages [7].

Core Points - The establishment of a full island customs closure in Hainan Free Trade Port is a significant milestone for expanding openness and will officially start on December 18, 2025 [1][3] - The customs closure policy measures are summarized as "four more" which include more favorable zero-tariff policies, more relaxed trade management measures, more convenient passage measures, and more efficient regulatory models [2][4] Group 1: Customs Closure Policy Measures - The zero-tariff policy will see the proportion of zero-tariff goods from 21% to 74%, allowing for tax-free circulation among eligible entities within the island [2][5] - Trade management measures will be more lenient, with some previously prohibited or restricted imports now being allowed [2] - The passage measures will enhance convenience through the establishment of ten "second-line" ports and streamlined customs processes [2][9] Group 2: Tax Policy Changes - The coverage of zero-tariff goods will significantly increase to approximately 6,600 tax items, representing 74% of all goods, a rise of nearly 53 percentage points compared to pre-closure policies [5] - The range of beneficiaries for the zero-tariff policy will expand to include various enterprises and non-enterprise units with actual import needs [5] - Restrictions on the conditions for zero-tariff goods will be relaxed, allowing for free circulation among eligible entities without the need to pay import taxes [5][6] Group 3: Regulatory Framework - The "Prohibited and Restricted Import and Export Goods List" has been published to enhance transparency and facilitate trade [7][8] - The list allows for the cancellation of import license management for 60 old mechanical and electrical product codes, covering about 80% of those previously under such management [8] - Customs will implement a dual-channel system for efficient regulation, with streamlined declaration processes reducing required items from 105 to 42 [9][11] Group 4: Implementation Readiness - The Hainan Free Trade Port is prepared for the customs closure with all necessary policies and infrastructure in place, including a smart regulatory platform [11][12] - The focus will be on policy implementation and continuous innovation in regulatory practices to enhance competitiveness [12]

Core Points - The Hainan Free Trade Port (FTP) will officially start its full island customs closure operation on December 18, 2025, as a significant milestone in expanding openness and facilitating international trade [1][3] - The customs closure will not restrict the flow of most goods and personnel, maintaining current management practices while enhancing international connectivity [1][3] - The FTP aims to attract global high-quality resources and promote high-quality development through a series of liberalization and facilitation policies [1][3] Policy Measures - The "zero tariff" policy will be implemented, increasing the proportion of zero-tariff goods from 21% to 74% for imports from the "first line" [2] - Trade management measures will be relaxed, allowing for open arrangements for certain previously restricted imports [2] - Existing eight open ports will serve as "first line" ports for the convenient passage of eligible imported goods [2] - A high-efficiency regulatory model will be established to ensure smooth implementation of the open policies [2] Economic Impact - The actual use of foreign capital in Hainan reached 102.5 billion yuan, with an annual growth rate of 14.6% [3] - The four leading industries (tourism, modern services, high-tech, and tropical agriculture) have increased their contribution to the provincial GDP by 13.7 percentage points, now accounting for 67% [3] - The ecological environment quality in Hainan remains among the best in the country, contributing to improved living standards and life expectancy [3] Taxation and Regulation - Independent legal entities registered in the FTP will be exempt from import taxes on goods outside the taxable list, enhancing the coverage of the "zero tariff" policy [4] - The customs authority has developed regulations to ensure effective supervision of the "zero tariff" and other open policies, balancing facilitation and regulation [4] - A new list of prohibited and restricted import/export goods has been established to enhance transparency and facilitate trade [5] Trade Management - The new list significantly increases the transparency of trade management and allows for the relaxation of import restrictions on certain goods, including the cancellation of import licenses for 60 old mechanical products [5] - The FTP will allow for bonded repairs of 38 product codes, achieving the highest level of openness in this area nationwide [5]

Market Overview - The Shanghai Composite Index briefly surpassed 3600 points before weakening at the close, with total trading volume close to 1.9 trillion yuan, indicating a recovery in market risk appetite [1] - The market's upward breakthrough is supported by stable economic fundamentals and policies aimed at addressing core issues in economic transformation [1] Policy Developments - The National Development and Reform Commission announced that the Hainan Free Trade Port will officially start operations on December 18, 2025, enhancing the flow of people, goods, capital, and data [2] - The implementation of a "one line open, one line controlled, and free within the island" policy is expected to attract more international enterprises and elevate Hainan's position in the global supply chain [2] Foreign Investment Trends - Foreign investment in RMB-denominated assets remains stable, with foreign holdings of domestic RMB bonds exceeding 600 billion USD, marking a historically high level [2] - In the first half of the year, foreign net purchases of domestic stocks and funds reached 10.1 billion USD, reversing the trend of net selling observed over the past two years [2][3] Market Performance - On July 23, A-shares showed mixed performance, with the Shanghai Composite Index closing at 3582.30 points, up 0.01%, while the Shenzhen Component Index and the ChiNext Index saw slight declines [4] - The non-bank financial, beauty care, and home appliance sectors led the gains, while construction materials, defense, and machinery sectors experienced the largest declines [4] Trading Activity - The market's trading volume was reported at 189.87 billion yuan, a decrease from the previous trading day, while the margin financing balance increased to 1.93 trillion yuan [5]