Core Viewpoint - The full island customs closure operation is a landmark project in the construction of Hainan Free Trade Port, marking a significant step towards further opening up the economy, set to officially start on December 18, 2025 [1][3]. Summary by Relevant Sections Customs Closure Policies - The customs closure policies can be summarized by "four more": 1. More favorable "zero tariff" policy for goods, increasing the proportion of "zero tariff" imported goods from 21% to 74% [3][4]. 2. More relaxed trade management measures, allowing open arrangements for certain previously prohibited or restricted imports [4]. 3. More convenient passage measures, with 8 existing open ports as "first line" ports and 10 "second line" ports for innovative passage measures [4]. 4. More efficient and precise regulatory models, ensuring low intervention and high efficiency for "zero tariff" goods [4]. Changes in Tax Policies - The tax policy for goods will see three significant changes: 1. The coverage of "zero tariff" goods will increase to approximately 6,600 tax items, accounting for 74% of all goods, a rise of nearly 53 percentage points compared to pre-closure policies [6]. 2. The range of beneficiaries will expand to include various enterprises and institutions with actual import needs across the island [7]. 3. Restrictions on the conditions for "zero tariff" goods will be relaxed, allowing free circulation among beneficiaries without the need to pay import taxes [7]. Import and Export Management - The "Prohibited and Restricted Import and Export Goods List" was released, enhancing transparency and openness in trade management, allowing for the cancellation of import license management for 60 old mechanical and electrical products, covering about 80% of such products [8]. - The customs management principle will be "first line" liberalization and "second line" regulation, with significant improvements in customs clearance efficiency [9]. Operational Readiness - Hainan's customs closure policies are ready, with all necessary documents and systems in place, including hardware facilities and a smart regulatory platform [11]. - The focus is on policy implementation, ensuring that the new customs closure operation is effectively executed and continuously improved [11].