Core Viewpoint - Hainan Free Trade Port has established itself as a leading region for financial openness and innovation in China since the release of the overall plan for its construction in 2020, with significant progress in cross-border capital flow policies and financial systems [1]. Group 1: Financial Policy and System Development - The People's Bank of China has been continuously improving financial policies and systems suitable for Hainan Free Trade Port, completing all preparations for its financial closure operation [1]. - Hainan aims for "free and convenient cross-border capital flow," implementing innovative financial policies such as the multi-functional free trade account (EF account) system, which supports high-level cross-border investment and asset management trials [1]. Group 2: Cross-Border Financial Activities - From January to November 2025, Hainan's cross-border payment and receipt scale reached $101.61 billion, with an average annual growth rate of 55% since 2020. The cross-border RMB settlement volume was 484.5 billion yuan, reflecting a year-on-year increase of 7.8% [1]. - As of October 2025, 11 banks in Hainan have launched EF accounts, with a transaction volume equivalent to 268.9 billion yuan, facilitating fund transfers with 80 countries and regions [2]. Group 3: EF Account Features and Usage - The EF account allows for convenient "cross-line" fund transfers and "cross-border" fund transfers without restrictions on foreign debt and cross-border financing, enabling businesses to engage in capital transactions without prior registration with foreign exchange authorities [2]. - By October 2025, over 650 EF accounts had been opened in Hainan, with the main business scenarios including spot and forward foreign exchange settlement, overseas loans, cross-border trade settlements, and borrowing foreign debts [3]. Group 4: Impact of Policies on Hainan's Economy - By the end of 2024, Hainan's foreign-related income and expenditure scale reached $108.63 billion, which is 2.9 times that of the end of 2021. The number of enterprises involved in trade foreign exchange receipts and payments in Hainan approached 10,000, reflecting a 1.4 times increase since the end of 2021 [3].

习近平总书记强调，建设海南自由贸易港，是党中央着眼新时代全面深化改革开放作出的重大决策。自 贸港建设以来，海南锚定打造引领我国新时代对外开放的重要门户的战略目标，扎实推进封关运作各项 准备工作，高水平开放和高质量发展不断迈上新台阶。 系列报道《学习贯彻党的二十届四中全会精神》今天来看：内蒙古、福建、重庆、共青团中央开展形式 多样的宣讲，推动全会精神深入基层，见行见效。 前11个月，全国服务业生产指数同比增长5.6%，发展持续向好。 前11个月，全国铁路发送旅客人次同比增长6.6%，创历史同期新高。 国际人士表示，日本首相高市早苗的错误言论违反国际法，须警惕此类言论对二战后国际秩序的破坏。 今日摘要 俄罗斯称，俄军控制哈尔科夫地区一居民点；乌克兰称，打击俄指挥所。 内容速览 【新思想引领新征程】潮涌海之南 开放风正劲 习近平总书记强调，建设海南自由贸易港，是党中央着眼新时代全面深化改革开放作出的重大决策。自 贸港建设以来，海南锚定打造引领我国新时代对外开放的重要门户的战略目标，把制度集成创新摆在突 出位置，稳步推进制度型开放，持续完善自贸港政策制度体系，高水平开放和高质量发展不断迈上新台 阶。 【央视快评】不断 ...

双方将在资源整合、内容共创、智力支持等方面深化合作。 12月17日，在海南自由贸易港全岛封关运作进入最后倒计时的历史性时刻，由海南广播电视总台与上海广播电视台第一财经联合打造的权威财经栏目《自贸 港·财经视界》启播仪式在海口华彩洲际酒店举行。来自海南省委省政府相关部门、金融机构、研究机构、重点园区、企业和媒体代表等近百位嘉宾，共同 见证栏目启播，并就封关后海南的发展机遇与制度构建展开深度研讨。 嘉宾寄语：聚焦战略 引领方向 智库赋能：深化合作，共筑平台 仪式现场，海南广播电视总台全媒体传播中心与上海广播电视台第一财经签署了共建自贸港财经专家智库合作备忘录。双方将在资源整合、内容共创、智力 支持等方面深化合作，以高水平的专家智库为支撑，赋能栏目的专业化建设与权威性提升，确保内容的前瞻性与深度。 启播仪式上，省委宣传部副部长张振明代表省委宣传部，向节目的启播表示祝贺！他强调，作为海南自贸港面向全国全球发声的财经平台，要创新报道理 念，打造专业化平台，精准开展热点引导和预期管理；要坚持全球视野，向海外积极传播自贸港的制度创新、政策优势、产业布局和良好机遇。 海南广播电视总台台长郭志民在致辞中表示，《自贸港·财经视界 ...

Core Points - The Hainan Free Trade Port will officially start its full island closure on December 18, marking a significant step in China's commitment to high-level opening-up and the construction of an open world economy [1][11] - The closure is not a shutdown but a further expansion of openness, aimed at embracing economic globalization amid rising unilateralism and trade protectionism [11][29] Group 1: Policy and Regulatory Framework - After the closure, Hainan will establish a customs supervision special area, implementing a policy characterized by "one line" for openness and "two lines" for management, allowing for greater freedom and convenience for people, capital, goods, and data from foreign countries [3][6] - The "one line" refers to the special open policies applicable to Hainan, while the "two lines" indicate that elements entering the free trade port must comply with mainland policies for management [6][8] Group 2: Economic Impact and Opportunities - The closure will enhance the flow of goods and services between Hainan and international markets, as well as improve connections with the mainland, leading to the release of more policy dividends, such as relaxed trade management measures and an expanded list of zero-tariff imports [19][21] - The number of tax-exempt goods will increase from 1,900 to over 6,600, and the zero-tariff level will rise from 21% to 74%, benefiting businesses and consumers alike [21][23] Group 3: Industry Development and Collaboration - Hainan aims to create a modern industrial system with unique advantages and characteristics, while also serving as a strategic intersection for domestic and international dual circulation [17][29] - The establishment of cross-provincial cooperation industrial parks is underway, attracting quality enterprises from the mainland to Hainan, which will facilitate industrial upgrades and provide a bridge to international markets [30][32] Group 4: Healthcare and Social Benefits - The Hainan Free Trade Port's development has positively impacted the healthcare sector, allowing for the introduction of international innovative drugs and medical devices, thus benefiting patients without the need to go abroad [35][39] - The establishment of the Hainan International Medical Tourism Pilot Zone has opened new channels for patients to access advanced medical care, enhancing treatment options and efficiency [37][39]

Core Viewpoint - The official launch of the Hainan Free Trade Port's full island closure on December 18 marks a significant step in China's commitment to high-level opening-up and the construction of an open world economy [1][9]. Group 1: Free Trade Port Policies - The Hainan Free Trade Port will implement a unique customs supervision area characterized by "one line" for opening and "two lines" for control, allowing for more liberalized and convenient policies [3][5]. - The "one line" refers to the special open policies for foreign entities, while the "two lines" manage the entry of goods and services into the mainland under domestic regulations [5][11]. - The tax policy includes a "zero tariff" approach, which will not directly apply to the mainland, ensuring that control measures are in place to facilitate openness [7][15]. Group 2: Economic Impact and Opportunities - The closure will transform Hainan into an open experimental zone, enhancing the flow of people, capital, goods, and data from abroad [5][9]. - The number of duty-free goods will increase from 1,900 to over 6,600, and the zero-tariff level will rise from 21% to 74%, significantly benefiting trade [13][15]. - The processing and value-added policy allows products with over 30% value addition to be sold to the mainland without tariffs, which is expected to attract high-end manufacturing to Hainan [15][17]. Group 3: Regional Cooperation and Development - Hainan is expected to play a pivotal role in connecting domestic and international markets, enhancing cooperation with regions like the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Economic Belt [21][19]. - The establishment of cross-provincial cooperation parks is facilitating the entry of quality enterprises into Hainan, leveraging the advantages of the free trade port [19][21]. - The Hainan Free Trade Port's development is anticipated to benefit ordinary citizens, particularly in healthcare, by introducing international innovative drugs and medical devices [21][23]. Group 4: Long-term Goals and Future Outlook - The full island closure is just the beginning of a long-term task to build a high-level free trade port with significant international influence by the middle of this century [25]. - Continuous improvement of the policy system and the establishment of an open economic new system are essential for the future success of the Hainan Free Trade Port [25].

Core Viewpoint - Hainan Free Trade Port will officially start its full island customs closure operation on December 18, marking a significant milestone in its development as a special customs supervision area, promoting higher levels of liberalization and facilitation in trade and investment [1] Financial Policies and Innovations - The People's Bank of China has continuously improved financial policies and institutional frameworks to support the construction of Hainan Free Trade Port since the release of the overall plan in 2020 [1] - The introduction of the multi-functional free trade account (EF account) aims to facilitate high-level cross-border capital flow, with the EF account officially launched in May 2024 [2][3] - The EF account allows for seamless cross-border transactions, enabling businesses to bypass traditional restrictions and streamline processes, significantly reducing transaction times from 1-2 days to 2-3 hours [3] Trade and Investment Facilitation - Hainan Free Trade Port has become a national leader in financial openness and innovation, with various trade and investment facilitation reforms being piloted [4] - As of October 2025, Hainan has seen a total of 430.5 billion USD in cross-border trade facilitation pilot businesses and 28 billion USD in cross-border investment and financing facilitation pilot businesses [6] Cross-Border Financing Developments - By October 2025, 144 QFLP (Qualified Foreign Limited Partner) equity investment funds have been established in Hainan, with a total of 2.275 billion USD in cross-border inflows, while 15 QDLP (Qualified Domestic Limited Partner) fund management companies have also been set up, facilitating 1.346 billion USD in cross-border outflows [8] - The cross-border RMB payment volume reached 484.5 billion RMB from January to November 2025, reflecting a year-on-year growth of 7.8% [8] Future Outlook - The full island customs closure operation is seen as the starting point for a higher level of openness, with financial services transitioning from backend support to frontline empowerment [9] - The ongoing financial innovations and policy implementations are expected to enhance Hainan's attractiveness for both domestic and international businesses, fostering a vibrant economic environment [9]

海南自由贸易港于本月18日封关运作。这是我国坚定不移扩大高水平对外开放、推动建设开放型世界经济的标志性举措。 从建省办特区，到建设自由贸易港……经过三十多年不懈努力，海南已从一个边陲海岛发展成为我国改革开放的重要窗口。 ** 1988年4月13日,第七届全国人大第一次 会议审议通过《关于设立海南省的决定》和 《关于建立海南经济特区的决议》,标志着 海南省的建立和海南经济特区正式诞生。 1988年5月,国务院公布《关于 鼓励投资开发海南岛的规定》,给予 海南经济特区更加灵活的经济政策,授予 海南省政府更大的自主权。1988年8月1日, 海南省政府发布《关于贯彻国务院〔1988〕 26号文件加快海南经济特区开发建设的若干 规定》,其中第二十九条写道:"凡是国家 法律、法规及省政府的条例规章没有明文禁 止的，有利于生产力发展的生产经营活动, 企事业单位、团体和个人均可放开经营、 大胆试验。" 2009年12月31日,国务院正式颁布《关于 推进海南国际旅游岛建设发展的若干意见》, 标志着海南国际旅游岛建设上升为国家战略, 海南再次迎来重大发展机遇。 2017年3月海南省出台《海南省全域旅游 建设发展规划（2016—2 ...

海南自由贸易港将于12月18日起正式启动全岛封关。记者12月17日从中国人民银行获悉，中国人民银行 持续完善与海南自贸港相适应的金融政策和制度体系，有力支持海南自贸港建设成型起势，封关的金融 准备工作已全部完成，支持高标准建设海南自由贸易港。 为支持海南自由贸易港跨境资金高水平自由便利流动，中国人民银行和国家外汇管理局于2024年5月推 出海南自由贸易港多功能自由贸易账户（EF账户），构建本外币合一账户体系。 一系列金融政策持续发力，支持海南经济社会高质量发展。中国人民银行数据显示，截至11月末，海南 省本外币各项贷款余额14101亿元人民币，同比增长11%。10月末，海南省科技相关产业贷款、绿色贷 款、普惠贷款、养老产业贷款、数字经济产业贷款分别同比增长9.2%、25.4%、9.8%、157.4%、8.4%。 中国人民银行介绍，自EF账户上线以来，试点企业不断增加，业务量持续提升。10月末，海南11家银 行共开立EF账户658个，发生业务量折合人民币2689亿元；开户主体与80个国家和地区发生资金划转。 （文章来源：新华网） 中国人民银行还在海南推进了一批金融创新政策先行先试：跨境资产管理试点业务顺利落地， ...

2020年《海南自由贸易港建设总体方案》发布以来，中国人民银行持续完善与海南自贸港相适应的金融 政策和制度体系，扎实做好金融改革发展稳定各项工作，有力支持海南自贸港建设成型起势。 12月18日，海南自由贸易港将要正式启动全岛封关。据悉，封关三项金融准备工作全部完成。 一是跨境资金流动管理制度进一步完善。《海南自由贸易港多功能自由贸易账户业务管理办法》制定发 布，为跨境资金自由流动提供制度保障。 二是多功能自由贸易账户上线运行。 多功能自由贸易账户（EF账户）是中国人民银行和国家外汇管理局贯彻落实党中央、国务院决策部 署，为支持海南自由贸易港跨境资金高水平自由便利流动，服务海南实体经济发展，构建的本外币合一 账户体系。据悉，自EF账户上线以来，系统运行平稳，试点企业不断增加，业务量持续提升。截至 2025年10月末，海南省共有11家银行上线EF账户，分别为工行、农行、中行、建行、交行、中信、浦 发、招行、光大、兴业和国开行的省级分行，共开立EF账户658个，其中，EFN账户362个，EFE账户 292个，EFF账户2个，EFU账户2个。EF账户发生业务量折合人民币2689亿元。开户主体通过EF账户与 80个国家 ...

Group 1 - Hainan Free Trade Port will officially start island-wide customs closure operations on December 18, marking a significant step in China's commitment to high-level opening-up and the construction of an open world economy [3] - The customs closure will create a special customs supervision area in Hainan, characterized by a policy system of "free on the first line, controlled on the second line, and free within the island" [3][5] - The strategic goal of building Hainan Free Trade Port is to establish it as a key gateway for China's new era of opening-up [3] Group 2 - Hainan has constructed 8 open ports and 10 second-line ports with regulatory facilities, ensuring that hardware conditions for customs closure operations are fully met [8] - The modern inspection facilities at the new Haikou Port and Nanyang Port cover an area of approximately 230,000 square meters, supporting the customs closure operations [8][10] - The customs regulatory system has been established to include tax collection, customs supervision, and risk prevention, with a smart regulatory platform connected to various national and provincial systems [10][12] Group 3 - The tax policy includes a dual 15% preferential tax rate for enterprises and individuals, and the scope of the duty-free policy for processed goods has been expanded to the entire island [15][18] - The zero-tariff list has expanded from over 1,900 items to more than 6,600 items, increasing its proportion from 21% to 74% of all taxable items [18] - The introduction of a negative list for import and export goods represents a new exploration of trade management, allowing for more open arrangements [18][20] Group 4 - Hainan's modern service industry achieved a value of 160.495 billion yuan in the first three quarters of 2025, accounting for over 28% of the regional GDP [23] - The construction of a modern industrial system with Hainan characteristics is accelerating, supported by the national strategy of building the Hainan Free Trade Port [24][25] - The establishment of a global repair center for medical devices in Haikou is an example of the new policies facilitating business operations in the free trade port [22] Group 5 - Hainan is becoming a frontier for domestic and foreign enterprises to allocate global resources and participate in international competition [29] - The successful implementation of customs closure operations is expected to significantly enhance the depth of reform and opening-up in China [29]