11月18日，海关总署举行海关支持海南自由贸易港建设总体情况介绍通报会，海口海关关长高瑞峰在会上 表示，目前全岛封关运作所需的软硬件条件已准备就绪，海关监管制度体系已建设完成，封关运作测试演 练全面推进，海关监管风险防线持续加强，关地协同共管机制全面建立，封关运作人力和组织保障已整体 到位。下一步，海口海关将做好封关各项准备工作，确保封关运作平稳有序。 海南自贸港封关海关监管制度体系已建成 海南自由贸易港将于2025年12月18日正式启动全岛封关运作。所谓"封关"是指将海南岛全岛建成一个海关监管 特殊区域，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。 国家发展改革委副主任王昌林此前曾就海南自贸港全岛封关运作的三大特征作出解读。王昌林指出，"一线"放 开，是将海南自贸港与我国关境外其他国家和地区之间作为"一线"，实施一系列自由便利进出举措；"二线"管 住，是将海南自贸港与内地之间作为"二线"，针对"一线"放开的内容实施精准管理；岛内自由，就是在海南自 贸港内，各类要素可以相对自由流通。 全岛封关运作是海南自贸港建设的标志性工程，也是进一步扩大开放的重要举措。 海关总署自贸区和 ...

Core Viewpoint - Hainan Free Trade Zone concept stocks experienced a significant surge, with the overall sector rising by 3.8% amid a weak market backdrop, indicating strong investor interest and optimism regarding the upcoming policy changes in Hainan [1][4]. Group 1: Market Performance - Hainan Free Trade Zone stocks, including Xunlong Holdings and Hainan Haiyao, saw rapid increases, with several stocks hitting the daily limit up within minutes of market opening [1][4]. - By 14:00, stocks such as Kangzhi Pharmaceutical and Hainan Mining also reached their daily limit, showcasing a broad-based rally in the sector [4]. Group 2: Policy Changes and Implications - The full island closure operation of Hainan Free Trade Port is set to officially start on December 18, 2025, with significant expansions in the range of "zero tariff" products from 1,900 to approximately 6,600 items, covering about 74% of all goods [4][8]. - The new policies will lower the threshold for companies to benefit from tax exemptions and expand the range of imported materials, which is expected to enhance the development prospects of local retail, tourism, manufacturing, and cross-border e-commerce sectors [1][4]. Group 3: Economic Impact - The "zero tariff" policy has already led to substantial tax reductions, with the import value of goods under this policy reaching 9.834 billion yuan and tax exemptions totaling 2.585 billion yuan as of September this year [6]. - The introduction of new aircraft under the "zero tariff" policy has significantly reduced costs for companies, exemplified by a recent Airbus A330 acquisition that saved approximately 114 million yuan in taxes [4][5]. Group 4: Future Investment Opportunities - Analysts suggest that the new policies will catalyze a shift in investment focus from B2C consumption to B2B industrial upgrades and high-value service sectors, with particular attention on modern logistics, high-tech industries, and tourism-related services [9][10]. - The strategic positioning of Hainan as a new hub for domestic and international trade is expected to attract significant investment, driven by its unique policy advantages and the ongoing restructuring of supply chains [10].

Core Points - The Ministry of Finance announced adjustments to the duty-free shopping policy for travelers in Hainan, raising the minimum age for duty-free shopping from 16 to 18 years old [1] - The new policy allows "departing and exiting travelers" aged 18 and above to enjoy the duty-free shopping benefits, provided they have purchased tickets for departure from Hainan and possess valid exit-entry documents [1] - The annual duty-free shopping limit for these travelers is set at 100,000 RMB, with no restrictions on the number of purchases [1] Policy Changes - The age requirement for duty-free shopping has been increased to 18 years [1] - The definition of eligible travelers now includes both domestic and foreign travelers who meet specific criteria [1] - The policy specifies that purchases must be made within the established limits and quantities, with details outlined in an attached document [1] Implementation Details - Travelers can purchase duty-free items at designated stores or approved online sales platforms [1] - Duty-free stores will deliver goods based on the traveler's departure schedule, and items must be collected in designated areas at airports or ports [1] - Travelers are allowed to carry the purchased items with them when leaving the island [1]