Core Insights - Global capital is rapidly flowing into Hainan due to the announcement of the island's full closure on December 18, 2025, which has sparked significant interest in investment opportunities [1][3] - Hainan is being positioned as a new super free trade port, with a scale 32 times that of Hong Kong, attracting major global corporations [5][19] Investment Trends - Prior to the closure announcement, there was already a surge in foreign investment, with 2,072 new foreign enterprises established in Hainan in 2024, approximately seven times the number in 2018 [3] - The number of countries and regions investing in Hainan increased from 43 in 2018 to 174 [3] Economic Potential - Hainan's current GDP is only 79 billion yuan, which presents a significant growth opportunity, with projections suggesting it could grow tenfold in the next decade [21] - The island's policies, including zero tariffs on 6,600 types of goods and a maximum personal income tax of 15%, are designed to create a favorable business environment [8][19] Strategic Advantages - Hainan's geographical location is advantageous, serving as a gateway between mainland China and ASEAN, with access to major shipping routes [15] - The island's status as a natural barrier enhances regulatory oversight, making it less susceptible to smuggling [17] Market Dynamics - The establishment of a comprehensive bonded zone allows for significant capital efficiency, enabling businesses to defer tax payments and improve cash flow [10][12] - Hainan aims to attract processing industries from Southeast Asia, creating a quasi-international market within China [14] Future Outlook - The closure of Hainan is seen as a strategic move by China to counter global protectionism and to open up its market further [24][26] - Predictions indicate that Hainan could evolve into a 2 trillion yuan GDP economy, serving as a major hub for high-end manufacturing and trade [26][28]

Group 1: Concept and Role of Bonded Zones - The bonded zone is a specific area where enterprises can enjoy tax exemptions, such as customs duties and value-added tax, promoting trade facilitation [2] - The bonded zone in Shanghai has attracted numerous domestic and foreign enterprises, providing benefits like faster customs clearance and reduced operational costs [2][4] - The bonded zone allows companies to conduct product testing and market research, expanding market opportunities [6] Group 2: Role of Customs Declaration Companies - Customs declaration companies play a crucial role in the operation of bonded zones by providing professional customs services to ensure smooth customs clearance [2] - Their main functions include document processing, customs declaration, tax payment, and logistics coordination [6][7][8] Group 3: Choosing the Right Customs Declaration Company - Selecting a qualified customs declaration company is essential, considering their professional qualifications and experience [9][10] - Understanding the service range of different customs companies is important to ensure they meet specific needs [11] - Customer feedback can provide valuable insights into the service quality of customs declaration companies [12] Group 4: Basic Steps in the Customs Declaration Process - The customs declaration process involves preparing necessary documents, submitting customs applications, customs review, tax payment, and goods retrieval [13][14][15][16][17] Group 5: Important Considerations - Companies must comply with relevant laws and regulations during the customs declaration process to avoid penalties [18] - Maintaining effective communication with customs declaration companies is vital for a smooth process [19] - Regularly evaluating the partnership with customs declaration companies can help in assessing service quality and responsiveness [21]

Core Insights - The article commemorates the contributions of Yao Tinggang, a prominent economist, to the development of Shanghai and the Pudong area, highlighting his role in policy design and economic research during the early years of Pudong's development [1][3][5] Group 1: Economic Policies and Research Contributions - Yao Tinggang was instrumental in the research and implementation of policies related to the Pudong development, providing guidance on various projects, including the establishment of the Free Trade Zone [3][8] - The establishment of the Waigaoqiao Free Trade Zone in 1990 marked a significant milestone, attracting investments from 94 countries and regions, with a total investment of $16.06 billion by December 2008 [8] - The research conducted during this period focused on policy design, strategic breakthroughs, and the economic implications of the Free Trade Zone, which later evolved into China's first Free Trade Pilot Zone in 2013 [8][16] Group 2: Housing Reform and Central Provident Fund - The article discusses the implementation of the Central Provident Fund in Singapore as a model for addressing housing issues in Shanghai, emphasizing its role in providing social security and promoting home ownership [11][13] - The Shanghai housing reform plan, approved in 1991, aimed to implement a provident fund system, increase rental subsidies, and establish a housing committee, with a total annual salary of $5 billion for workers [16] - By leveraging the Central Provident Fund model, Shanghai aimed to alleviate housing shortages, with a focus on increasing home ownership rates among low- and middle-income families [13][16]