Core Viewpoint - The Hainan Free Trade Port will officially start its customs closure operation on December 18, 2025, symbolizing China's commitment to high-level openness and development [1][2]. Group 1: Customs Closure and Policy Implementation - The customs closure will not restrict the island but will enhance openness and promote high-quality development of the Hainan Free Trade Port [1]. - The closure will implement a policy characterized by "one line open, two lines controlled, and free flow within the island," facilitating international trade and movement [2]. - The current management of goods and personnel entering and exiting Hainan will remain unchanged before and after the customs closure [1]. Group 2: Financial and Trade Policies - After the customs closure, the National Development and Reform Commission will gradually establish financial policies that align with openness and development, including cross-border asset management pilot programs [4]. - The customs closure will expand the range of zero-tariff goods and adapt to the shift from manufacturing to service industry openness [4]. - The Ministry of Commerce will support the Hainan Free Trade Port in becoming a significant gateway for China's new era of openness, enhancing the business environment and promoting trade innovation [7]. Group 3: Regulatory and Tax Reforms - The customs closure will optimize the processing and value-added tax exemption policy in four key areas, enhancing the overall tax system [9]. - The range of zero-tariff goods will increase to approximately 6,600 tax items, covering 74% of all goods, a significant increase of nearly 53 percentage points compared to before the closure [9]. - The Ministry of Finance will continue to deepen tax reforms, ensuring sustained policy strength and benefits, including adjustments to the import tax item catalog and the duty-free shopping policy [9][11].