□ 戴 翔 高水平开放的战略愿景，在于为中国式现代化建设夯实制度基础，并为推动全球经济治理体系向更加公 正合理的方向演进提供中国方案。我国通过深度参与数字经济、绿色贸易、服务业开放等新兴领域国际 规则制定，既为国内产业转型升级和科技自主可控创造制度条件，又积极构建更具包容性、普惠性的国 际经济新秩序。从坚定维护以世贸组织为核心的多边贸易体制，到在共建"一带一路"中推进规则标准对 接，再到将中国特色社会主义市场经济治理经验融入全球发展倡议，我国正着力将发展实践转化为国际 公共产品，为全球治理贡献中国智慧。 高水平开放是开放战略的深化升级，是新时代我国作为负责任大国，立足历史方位，通过制度文明建 设、对话互鉴，推动自身发展与世界进步深度融合的必然选择。在制度型开放引领下，我国新一轮对外 开放正为构建互利共赢的国际合作新格局提供坚实支撑和持久动力。 （作者为南京审计大学教授） □ 戴 翔 回顾历史，我国对外开放长期以"商品和要素流动型开放"为主要特征。这一开放模式是特定历史阶段的 必然选择，充分彰显了我国要素禀赋优势。伴随国内环境的深刻变化，传统以商品和要素跨境流动为主 的开放方式，在突破国际规则壁垒、提升产业链价 ...

习近平总书记指出，"建设海南自由贸易港的战略目标，就是要把海南自由贸易港打造成为引领我 国新时代对外开放的重要门户。" 锚定这一战略目标，以封关为契机，海南"稳步扩大制度型开放""深入推进商品和要素流动型开 放""构建更加开放的人才机制""深化行政体制改革"，促进海南自贸港高质量发展。 12月18日，海南自贸港将正式启动全岛封关运作。封关不是"封岛"，而是为了更高水平的开放。面 向封关，海南自贸港建设蹄疾步稳，着力打造展示中国风范的靓丽名片。 从"岛"向"港" 引领开放 建设海南自由贸易港，是习近平总书记亲自谋划、亲自部署、亲自推动的重大国家战略，一系列重 要指示为海南自由贸易港建设指引方向。 2018年4月，在庆祝海南建省办经济特区30周年大会上，习近平总书记郑重宣布"中国特色自由贸易 港"的建设构想。 2020年，党中央、国务院印发《海南自由贸易港建设总体方案》。封关正是方案中的一项关键制度 设计。 封关后，海南岛全岛将实施以"'一线'放开、'二线'管住、岛内自由"为基本特征的自由化便利化政 策制度。 "封关使海南形成一个相对独立的关税区域，这样的创新对吸引全球优质要素集聚、支持海南的创 新发展都有着基础 ...

Core Points - The construction of Hainan Free Trade Port is a strategic goal aimed at making it a significant gateway for China's new era of opening up [6][10] - The full island customs closure is a milestone event, marking the start of a new phase in Hainan's development as a free trade port [8][13] - The focus is on high-quality development and contributing to the national new development pattern, with specific emphasis on creating a modern industrial system unique to Hainan [10][11] Group 1: Strategic Importance - Hainan is positioned as a unique economic zone with advantages in geography and ecology, making it a testing ground for reform and opening up [3][4] - The strategic goal is to establish Hainan as a leading model for China's opening up, reflecting the highest level of openness in the world [6][10] - The policies for Hainan Free Trade Port have been continuously implemented under the direct guidance of the central government [6][8] Group 2: Development Goals - The primary objectives of high-standard construction of Hainan Free Trade Port are to promote high-quality development and support the national new development framework [10] - The "three zones and one center" strategy has been assigned to Hainan, focusing on comprehensive reform, ecological civilization, international tourism, and major strategic service support [10][11] - Hainan's four leading industries—tourism, modern services, high-tech industries, and tropical agriculture—account for nearly 70% of the province's GDP [11] Group 3: Regional Cooperation - Hainan is encouraged to strengthen its development linkages with the Guangdong-Hong Kong-Macao Greater Bay Area and other key regions [11] - The integration into the Belt and Road Initiative is emphasized to enhance international trade and shipping capabilities [11]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - Through macro - fundamental and technical analysis, the report predicts the trends of various futures contracts on November 7, 2025, including weak oscillations for stock index futures, iron ore, crude oil, PTA, PVC, and soybean meal futures; shock consolidation for gold and silver futures; and wide - range oscillations for some other futures contracts [2][3][5][6]. Summary by Directory 1. Macro News and Trading Tips - China emphasizes the construction of Hainan Free Trade Port, promotes trade and investment liberalization, and responds to the issue of Nexperia. The Chinese government also conducts reverse repurchase operations and adjusts administrative divisions. In the US, Trump reaches an agreement on GLP - 1 diet pills, and the employment situation is severe, leading to an increase in interest - rate cut expectations. The US government shutdown affects inflation data and the aviation industry. The UK central bank maintains the interest rate, and the expectation of an interest - rate cut in December increases [8][9][10]. - On November 6, international precious - metal futures generally closed down, oil prices declined, and most London base metals rose. Indonesia stops approving applications for nickel ore processing plants, and Saudi Aramco lowers the price of crude oil sold to Asia [10][11]. 2. Futures Market Analysis and Forecast Stock Index Futures - On November 6, major stock - index futures contracts such as IF2512, IH2512, IC2512, and IM2512 showed different degrees of increase. The A - share market rose, with an increase in trading volume. MSCI adjusted its index, and Hong Kong stocks also rose. US and European stock markets generally fell [12][13][14][15][16][17]. - It is expected that on November 7, stock - index futures will show weak oscillations, and in November 2025, they will likely have wide - range oscillations [17][18]. Treasury Bond Futures - On November 6, ten - year and thirty - year treasury - bond futures contracts generally declined. The central bank conducted reverse - repurchase operations, resulting in a net withdrawal of funds. It is expected that on November 7, ten - year and thirty - year treasury - bond futures contracts will have wide - range oscillations [34][35][36][38][39]. Precious - Metal Futures - On November 6, gold and silver futures contracts rose. It is expected that in November 2025, the continuous main contracts of gold and silver futures will have wide - range oscillations, and on November 7, they will show shock consolidation [40][48][49]. Base - Metal Futures - On November 6, copper, aluminum, alumina, and carbon - lithium futures contracts showed different degrees of increase. It is expected that in November 2025, copper, aluminum, and carbon - lithium futures will have wide - range oscillations, and alumina futures will have weak wide - range oscillations. On November 7, copper and alumina futures will have weak oscillations, and aluminum futures will have wide - range oscillations and attempt to break through resistance levels [53][59][63][67][68]. Building - Material and Energy - Chemical Futures - On November 6, futures contracts such as rebar, hot - rolled coil, iron ore, coking coal, glass, soda ash, crude oil, PTA, PVC, methanol, and soybean meal showed different trends. It is expected that in November 2025, most of these futures will have wide - range oscillations. On November 7, rebar, glass, and soda - ash futures will show shock consolidation; hot - rolled coil, iron ore, coking coal, crude oil, PTA, PVC, methanol, and soybean meal futures will have weak oscillations; and carbon - lithium futures will have strong oscillations [70][76][79][84][87][91][95][98][101][103][104].

Core Points - Hainan will implement a full island closure operation in over a month, emphasizing the need for comprehensive implementation of the Hainan Free Trade Port construction plan [1] - The average annual growth of Hainan's goods trade has been 31.3% over the past five years, with significant optimization in industrial structure and a focus on high-quality development [1] - The expansion of the "zero tariff" product range from 1,900 to approximately 6,600 items post-closure will enhance consumer benefits [1] Group 1 - The free and orderly flow of goods and factors is a fundamental characteristic of an open economy, with Hainan's achievements providing valuable insights [1] - The complementary nature of institutional and factor-based openness will facilitate efficient movement of goods and factors, laying a foundation for further institutional openness [1] - Hainan's mission is to leverage high-quality development to assist in constructing a new development pattern for the nation [2] Group 2 - Hainan's unique "inside-outside" status grants it greater management freedom, with a series of measures to facilitate the entry and exit of goods across the entire island [2] - Enhanced transportation infrastructure in Hainan supports convenient movement of goods and people, but further policy measures are needed to eliminate hidden barriers to the flow of goods and factors [2] - The ongoing deepening of Hainan's Free Trade Port construction will foster closer connections with other regions, advancing China's overall opening-up efforts [2]