Core Points - The establishment of a full island customs closure in Hainan Free Trade Port is a significant milestone for expanding openness and will officially start on December 18, 2025 [1][3] - The customs closure policy measures are summarized as "four more" which include more favorable zero-tariff policies, more relaxed trade management measures, more convenient passage measures, and more efficient regulatory models [2][4] Group 1: Customs Closure Policy Measures - The zero-tariff policy will see the proportion of zero-tariff goods from 21% to 74%, allowing for tax-free circulation among eligible entities within the island [2][5] - Trade management measures will be more lenient, with some previously prohibited or restricted imports now being allowed [2] - The passage measures will enhance convenience through the establishment of ten "second-line" ports and streamlined customs processes [2][9] Group 2: Tax Policy Changes - The coverage of zero-tariff goods will significantly increase to approximately 6,600 tax items, representing 74% of all goods, a rise of nearly 53 percentage points compared to pre-closure policies [5] - The range of beneficiaries for the zero-tariff policy will expand to include various enterprises and non-enterprise units with actual import needs [5] - Restrictions on the conditions for zero-tariff goods will be relaxed, allowing for free circulation among eligible entities without the need to pay import taxes [5][6] Group 3: Regulatory Framework - The "Prohibited and Restricted Import and Export Goods List" has been published to enhance transparency and facilitate trade [7][8] - The list allows for the cancellation of import license management for 60 old mechanical and electrical product codes, covering about 80% of those previously under such management [8] - Customs will implement a dual-channel system for efficient regulation, with streamlined declaration processes reducing required items from 105 to 42 [9][11] Group 4: Implementation Readiness - The Hainan Free Trade Port is prepared for the customs closure with all necessary policies and infrastructure in place, including a smart regulatory platform [11][12] - The focus will be on policy implementation and continuous innovation in regulatory practices to enhance competitiveness [12]