Core Points - Hainan's customs closure is a significant step in the construction of the Hainan Free Trade Port, aimed at further expanding China's openness [1][12] - The closure will transform Hainan into a "domestic outside" area, allowing for freer movement of goods, capital, and personnel while maintaining some regulatory controls with the mainland [3][5] Summary by Sections Customs Closure Concept - The term "customs closure" refers to establishing Hainan as a unique area with specific rules, allowing for open international trade while regulating connections with the mainland [3][5] - The core principle involves "one line open, two lines controlled, and free movement within the island," facilitating international connections while managing trade with the mainland [3][5] Preparation for Closure - The preparation for Hainan's customs closure began in 2018, with a formal plan announced in June 2020 to initiate operations by 2025 [5][6] - By March 2023, extensive preparations were underway, including 64 tasks, 31 construction projects, and 27 pressure tests [5][6] Benefits for Residents - The customs closure will create a "zero tariff" policy for certain imported goods, turning Hainan into a significant shopping destination for residents [6][7] - Enhanced access to high-quality services in education, healthcare, and tourism will improve the living standards for residents [7][9] Employment Opportunities - The closure is expected to attract businesses, leading to job creation, but will also require residents to enhance their skills to meet new demands [9][10] - Increased business activity will likely boost public service funding, improving overall living conditions [9][10] Tourist Appeal - Hainan's tourism sector will benefit from increased international flights and diverse tourism offerings, enhancing the overall visitor experience [10][11] - Tourists may also enjoy some shopping benefits, although not as extensive as those for residents [10][11] Business Opportunities - The customs closure will significantly reduce import costs for businesses, with a projected increase in zero-tariff items to 74% [11] - A clear regulatory framework will encourage business operations, allowing for greater flexibility and resource allocation [11][12] Overall Impact - Hainan's customs closure represents a transformative milestone, positioning the region as a global trade hub and enhancing China's international trade profile [12] - The initiative is expected to yield tangible benefits for residents, tourists, and businesses, contributing to a more open and competitive economic environment [12]

Core Points - The full island closure operation is a landmark project for the construction of Hainan Free Trade Port, symbolizing a significant step towards further opening up the economy [1] - The closure is scheduled to officially start on December 18, 2025, coinciding with the anniversary of China's reform and opening-up policy, showcasing China's commitment to high-level openness [1][2] Group 1: Closure Operation Details - The closure refers to establishing Hainan Island as a special customs supervision area, implementing a policy characterized by "one line open, one line controlled, and free flow within the island" [2] - The "one line" open policy allows for free and convenient entry and exit between Hainan Free Trade Port and other countries, while the "two line" controlled policy manages the flow between Hainan and the mainland [2] - The closure will enhance Hainan's connectivity with the international market, facilitating the attraction of global quality resources and promoting high-quality development of the Hainan Free Trade Port [2] Group 2: Customs and Trade Management - After the closure, most goods and personnel will continue to be managed under current regulations, with minimal changes to the entry and exit processes [3] - For goods requiring inspection, measures will be implemented to ensure efficient customs clearance, including relocating certain inspections to avoid congestion [3] - The customs authority has developed a regulatory framework to ensure safe and efficient management of goods entering and exiting the Hainan Free Trade Port [3][4] Group 3: Tax Policy Changes - The "zero tariff" policy is a key feature of the Hainan Free Trade Port, with significant expansions planned for the range of goods eligible for this policy [5][6] - The number of "zero tariff" items will increase from 1,900 to approximately 6,600, covering about 74% of all goods, representing a nearly 53 percentage point increase [7] - The scope of beneficiaries will expand to include various enterprises and non-profit organizations with actual import needs, allowing for greater flexibility in the circulation of imported goods [7]

Core Points - The Hainan Free Trade Port will officially start its closure operation on December 18, 2025, symbolizing China's commitment to high-level openness and reform [1][11] - The closure operation is a significant milestone for Hainan's development and aims to enhance its industrial competitiveness and cluster effects [3][11] Policy Changes - The "zero tariff" policy will expand from 1,900 to approximately 6,600 product categories, covering 74% of all product tax categories, an increase of nearly 53 percentage points [2] - The scope of beneficiaries for the "zero tariff" policy will also broaden, allowing various enterprises and institutions with actual import needs to benefit from the policy [2] Industry Focus - Hainan will focus on developing key industries such as biotechnology, deep-sea technology, and aerospace in the coming years [4] - The tourism, modern services, high-tech industries, and tropical agriculture sectors have increased their contribution to the province's GDP by 13.7 percentage points over five years, now accounting for 67% of the total [3] Regulatory Framework - The operational model of "one line" open and "two lines" controlled will characterize the closure operation, facilitating easier international connections while managing domestic regulations [5][6] - Customs procedures will be streamlined, reducing the number of declaration items for exports from 105 to 42, enhancing efficiency [7] Tourism Development - Hainan aims to accelerate the construction of an international tourism consumption center, promoting new cultural and tourism consumption experiences [9] - The province will create a safe and enjoyable tourism environment, ensuring comprehensive coverage of consumer protection services [9] Future Outlook - The closure operation is expected to generate new momentum and vitality for Hainan, establishing it as a significant gateway for China's new era of openness [11]

Core Viewpoint - The Hainan Free Trade Port will officially start its full island closure on December 18, 2025, marking a significant transformation in its operational phase and enhancing its role in China's high-level opening-up strategy [1][3]. Group 1: Significance of the Closure - The closure is seen as a landmark project that signifies the transition of Hainan Free Trade Port from an initial stage to substantial operational capabilities, especially in the context of rising trade protectionism and unilateralism globally [1][3]. - The closure will facilitate a more convenient connection between Hainan and international markets, promoting the gathering of global quality resources and contributing to high-quality development of the Hainan Free Trade Port [3]. Group 2: Policy Framework - The closure will establish Hainan as a "borderless" zone, allowing for zero tariffs and other preferential policies, with a focus on a system characterized by "one line open, one line controlled, and free flow within the island" [1][2]. - The proportion of goods enjoying zero tariffs has increased from 21% to over 70%, enhancing resource allocation efficiency [2]. Group 3: Implementation Readiness - The necessary policies and supporting documents for the closure have been completed, including the import tax item catalog and the list of restricted goods, with hardware facilities passing national inspections [3][4]. - Comprehensive pressure tests are being conducted to ensure effective management post-closure, balancing openness with regulatory control [3]. Group 4: Travel and Trade Impact - Travelers will not require additional documentation to enter or exit Hainan, maintaining current travel convenience while enhancing the overall travel experience [4][5]. - The annual duty-free shopping limit for travelers is set to increase to 100,000 yuan, which is expected to boost consumption [5]. Group 5: Taxation and Trade Facilitation - The zero-tariff system will be a core feature of the Hainan Free Trade Port, with the proportion of zero-tariff goods expected to rise to 74% post-closure, significantly increasing from the previous 21% [6][8]. - The policy changes will lower production costs for market entities and stimulate market vitality, enhancing the level of trade liberalization and facilitation in Hainan [8]. Group 6: Strategic Development - The combination of zero tariffs and the policy of exempting tariffs on goods with a processing value added of 30% or more is crucial for leveraging the domestic market and establishing Hainan as a key point for domestic and international dual circulation [8][9]. - Hainan aims to develop a preservation and processing base for agricultural products targeting ASEAN markets, enhancing the efficiency of tropical agricultural resources and supporting the goal of becoming a global tropical agricultural center [9].

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]

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 official closure of Hainan Free Trade Port is set to commence on December 18, 2025, marking a significant milestone in the region's development and further opening up to international markets [1][2]. Group 1: Closure Policy and Implementation - The closure policy aims to establish Hainan Island as a special customs supervision area, characterized by a "first line" of openness and a "second line" of management, allowing for relative freedom of flow of various factors within the island [5][6]. - The Deputy Director of the National Development and Reform Commission emphasized that the closure is not about isolating the island but rather about enhancing openness and facilitating international connections [5]. - Hainan's provincial government has completed the necessary preparations for the closure, including the establishment of tax policies and hardware facilities, ensuring readiness for the transition [6]. Group 2: Tax Policies and Trade Facilitation - The "zero tariff" policy is a key feature of Hainan's Free Trade Port system, with recent expansions to include raw materials, transportation vehicles, and self-use production equipment [8][9]. - The Ministry of Finance has developed a comprehensive tax policy framework for goods entering and circulating within the Free Trade Port, which will be implemented upon the closure [9]. - Significant changes in the tax policy include an increase in the coverage of "zero tariff" goods, an expansion of eligible beneficiaries, and a relaxation of policy restrictions, aimed at reducing production costs and enhancing market vitality [9]. Group 3: Impact on Travel and Tourism - Travel to and from Hainan will remain unaffected post-closure, with no additional documentation required for travelers, ensuring smooth and efficient movement [10][11]. - Hainan aims to accelerate the development of an international tourism consumption center, enhancing tourist experiences through new attractions and improved service systems [12]. Group 4: Commitment to Further Opening - Data from the Ministry of Commerce indicates that from 2020 to 2024, Hainan's actual foreign investment will exceed the total from the previous 32 years, with an annual growth rate of over 30% in trade volume [14]. - The Ministry of Commerce plans to support Hainan's Free Trade Port by enhancing institutional openness, leveraging open platforms, and fostering new development dynamics [15][16].

Group 1 - The core point of the news is that Hainan Free Trade Port will officially close customs on December 18, 2023, marking a significant step towards further opening up the region [1][2]. - "Closing customs" means establishing Hainan Island as a special customs supervision area, implementing a policy characterized by "one line" being open, "two lines" being managed, and free movement within the island [2]. - The "one line" refers to the open policy between Hainan Free Trade Port and other countries and regions outside China's customs, while the "two lines" involve precise management of the open policies with the mainland [2]. Group 2 - There will be no changes in the entry and exit of personnel to Hainan after the customs closure; travelers will continue to enjoy the same travel experience without needing additional documentation [3]. - The range of "zero tariff" products will expand from the current 1,900 tax items to approximately 6,600 tax items, covering about 74% of all product tax items, which is an increase of nearly 53 percentage points compared to before the customs closure [4]. - The benefits of the new policies will extend to various enterprises and institutions across the island, significantly reducing production costs and enhancing the level of trade liberalization and facilitation in Hainan Free Trade Port [4].

Core Points - The Hainan Free Trade Port will officially start its closure operation on December 18, 2025, implementing a policy characterized by "one line" liberalization, "two lines" management, and free flow within the island [1][3] - The proportion of "zero tariff" goods for "one line" imports will increase from 21% to 74%, allowing for tax-free circulation among eligible entities within the island [5][10] - A "one-stop customs clearance" model will be established to enhance efficiency, allowing enterprises to declare goods online in advance [12] Group 1 - The "one line" refers to the liberalization of trade between Hainan Free Trade Port and other countries, while the "two line" involves precise management of trade with the mainland [3][10] - The establishment of "two line" ports will facilitate the movement of goods, items, personnel, and transportation tools between Hainan Free Trade Port and the mainland [8][10] - The closure will not require additional documentation for travel to Hainan, ensuring convenience for visitors [7][8] Group 2 - The policy will include open arrangements for certain prohibited and restricted imports, with ten "two line" ports set up for innovative and convenient passage of goods [5][10] - The management of most goods and all personnel and transportation tools will continue under current regulations, ensuring smooth travel and trade [10][12] - The government will focus on maintaining efficient customs operations and enhancing the travel and shopping experience for visitors to Hainan [12]

Core Viewpoint - The implementation of full island closure operation in Hainan Free Trade Port is a landmark project and an important measure to further expand openness, characterized by the policy of "one line open, two lines controlled, and free flow within the island" [1] Group 1 - The full island closure operation is a significant milestone in the construction of Hainan Free Trade Port [1] - The policy features "one line open," which allows for a series of free and convenient entry and exit measures between Hainan Free Trade Port and other countries and regions outside China's customs [1] - The "two lines controlled" aspect refers to precise management of the content that is opened up in the "one line" between Hainan Free Trade Port and the mainland [1] - The "free flow within the island" indicates that various factors can circulate relatively freely within Hainan Free Trade Port [1]