Core Viewpoint - The Hainan Free Trade Port is set to officially start its full closure operation on December 18, 2025, with a focus on tax reform and enhancing international competitiveness to support its development [1][4]. Tax Reform and Policies - The Ministry of Finance will continue to deepen tax reforms, including the gradual advancement of sales tax reform, which involves the consolidation of multiple taxes such as VAT, consumption tax, and vehicle purchase tax [1][2]. - The overall requirement for tax reform under the Hainan Free Trade Port construction plan is to implement zero tariffs, low tax rates, and simplified tax systems in a phased manner [2][3]. - Key areas of focus for tax policy include maintaining current corporate and personal income tax incentives, expanding the range of zero-tariff goods, and optimizing the duty-free shopping policy for outbound tourists [2][3]. Consumer and Tourism Development - The government plans to allow island residents to purchase certain imported products tax-free, enhancing their shopping experience [3]. - Hainan aims to attract 97.2 million domestic and international tourists in 2024, marking an 8% increase from the previous year, with a significant rise in inbound tourists [5]. - The province is focused on creating a modern industrial system with a strong emphasis on duty-free shopping, healthcare, and education, aiming to enhance the overall tourism experience [5].