Core Insights - Jingrun Pearl has successfully implemented a combination of "two-step declaration" and "processing value-added domestic sales duty exemption" policies, becoming the first company in Haikou to benefit from this policy synergy [1][2] - The implementation of these policies has significantly improved the company's customs clearance efficiency and reduced operational costs, providing a replicable model for the application of Hainan Free Trade Port policies in the non-standard product industry [1] Group 1: Policy Implementation and Benefits - Jingrun Pearl has been granted the status of a pilot beneficiary for processing value-added duty exemption since November 30, 2024, and has imported raw materials in 15 batches, with domestic sales valued at 14.49 million yuan and a benefit amount of approximately 1.5 million yuan [1] - The "two-step declaration" process has halved the time required for customs clearance, reducing the procurement cycle from over two weeks to within one week [1][2] - The combination of the two policies has led to a 14.7% reduction in overall costs for the company, enhancing both customs convenience and duty exemptions in domestic sales [2] Group 2: Government Support and Policy Facilitation - The Haikou Municipal Government, particularly the Longhua District Science and Technology Bureau and the Yecheng Customs, has actively collaborated to provide comprehensive policy guidance to the company [3] - A service model involving "precise communication, full-process guidance, collaborative problem-solving, and follow-up implementation" has been established to help companies understand policy details and accelerate the release of policy benefits [3] - The establishment of a special approval team by customs, along with "non-face-to-face approval" methods, ensures that companies can complete necessary processes while balancing regulation and service [3]

Group 1 - The article highlights the successful implementation of various "first" initiatives in the Yangpu Free Trade Port Area, showcasing its role as a testing ground for Hainan's free trade policies [2][5][7] - The establishment of the first innovation research center for nutritional cooking oil in the Yangpu Free Trade Port Area marks a significant milestone in promoting high-level openness and deep reforms [2][4] - The "two ends outside" policy, allowing companies to import raw materials and export finished products, has been successfully tested, exemplified by the case of a high-end rescue boat seat repair service [3][4] Group 2 - The Yangpu Free Trade Port Area has achieved significant advancements in six strategic emerging industries, including petrochemical new materials and digital economy, leading to a diversified and high-end economic structure [4][5] - The implementation of simplified import procedures and zero tariffs for self-use production equipment has reduced costs for enterprises, enhancing the region's competitive edge [5][6] - The processing and value-added tax exemption policy, initially piloted in Yangpu, is set to expand across Hainan Island by 2024, further promoting industrial development [6][7]

Group 1: Hainan Free Trade Port Launch - Hainan Free Trade Port will officially start customs closure on December 18, 2023, establishing the entire island as a customs supervision special zone with liberalization policies [2] - Yangpu Port, as a key infrastructure, is expected to achieve a container throughput of 5 million TEUs this year after the customs closure project is operational [2] - Six customs closure projects at Yangpu Port are currently in full debugging phase to ensure smooth operations post-closure [2] Group 2: Infrastructure Development - By July 2025, Hainan will have completed 121 customs closure hardware projects covering ports, parks, and transportation networks [3] - Eight "first-line ports" and ten "second-line ports" have basic infrastructure and inspection facilities ready, with ten second-line port information projects in trial operation [3] Group 3: Tax Policies and Business Opportunities - Since the implementation of the Hainan Free Trade Port policy, zero tariffs and tax exemptions for processing and value-added goods have attracted numerous enterprises to the region [4] - Hainan has seen over 100 billion yuan in value for goods benefiting from processing and value-added tax exemptions, resulting in approximately 8.4 billion yuan in tax savings [5] - The list of zero-tariff items has expanded significantly, with 653 items for raw materials and 122 items for transportation tools and yachts [5] Group 4: Foreign Investment and Education - Hainan is actively expanding its investment openness, with 176 countries and regions now investing in the area [6] - The Lingshui Li'an International Education Innovation Pilot Zone allows domestic and foreign students to share resources and courses, attracting around 5,000 students [6] - The region has opened over 330 multifunctional free trade accounts and has established 77 international air routes, enhancing cross-border capital flow [6]

Core Viewpoint - The establishment of the Hainan Free Trade Port, with its full closure set for December 18, 2025, is expected to significantly impact the cosmetics industry by expanding the range of zero-tariff products and enhancing the operational environment for international beauty brands [1][12][14]. Group 1: Policy Impact - The zero-tariff product range will expand from approximately 1,900 to about 6,600 tax items, increasing the proportion of zero-tariff products to 74%, a rise of nearly 53 percentage points [6][10]. - The "one line" and "two lines" regulatory framework will allow for free flow of goods, capital, and personnel within Hainan, while controlling the flow of goods to mainland China [4][5][10]. - Consumers in Hainan will be exempt from import tariffs but will still need to pay consumption tax and value-added tax, with the possibility of full tax exemption for purchases within the duty-free limit [6][10]. Group 2: Market Dynamics - Hainan has been a key market for luxury and beauty products, with 2023 imports of beauty and skincare products reaching 16.678 billion yuan [12]. - Major international brands like L'Oréal, Estée Lauder, and Shiseido have established a strong presence in Hainan, viewing it as a strategic market for growth [14][15][20]. - The competitive landscape may shift as both international and domestic beauty brands vie for market share in Hainan's duty-free environment, potentially benefiting local brands [21][22]. Group 3: Business Opportunities - The reduction in operational costs due to zero tariffs is expected to enhance profit margins for international beauty brands, making Hainan an attractive location for investment [14][20]. - Local companies, such as Jingrun Pearl, are already capitalizing on the new policies, with significant cost savings projected from the import and processing of goods [10][11]. - The anticipated influx of foreign investment and talent into Hainan is expected to further stimulate the cosmetics market and enhance its global competitiveness [11][12].

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].