Core Viewpoint - The Hainan Free Trade Port (Hainan FTP) is set to officially start its customs closure on December 18, 2025, marking a significant milestone in China's efforts to expand its openness and establish a new economic system [1] Group 1: Hainan FTP Development - The policy and institutional framework for Hainan FTP has been initially established over the past five years since the release of the overall plan in June 2020 [1] - The customs closure will create a special customs supervision area across Hainan Island, implementing a policy characterized by "freeing up the first line, controlling the second line, and allowing freedom within the island" [1] Group 2: Six Aspects of Accelerating Openness - The National Development and Reform Commission (NDRC) will focus on six areas to enhance openness, including establishing a free and secure trade management system, expanding the range of zero-tariff goods, and improving the investment environment [2][3] - A transparent and predictable investment environment will be created by relaxing foreign investment access and implementing a commitment-based entry system [2] - Financial policies will be gradually established to support open development, including expanding the functions of multi-functional free trade accounts [2] - More convenient entry and exit management policies will be implemented, including relaxed restrictions on personnel movement and improved visa policies [2] Group 3: Taxation and Fiscal Policies - The Ministry of Finance is working on tax policies related to the customs closure, including the implementation of zero-tariff policies and adjustments to the import tax list [4][5] - The Ministry will continue to implement current preferential tax policies to attract high-end talent and quality enterprises to Hainan [5] - Research on sales tax reform is underway, aiming to simplify the tax system and adapt it to the needs of the Hainan FTP [6] Group 4: Customs and Processing Policies - The General Administration of Customs has optimized the processing and value-added tax exemption policy, allowing goods processed in Hainan to be exempt from import duties if they meet certain value-added criteria [7][8] - The threshold for companies to benefit from the exemption has been lowered, and the range of applicable imported materials has been expanded [7][8] Group 5: Trade Management and Openness - The Ministry of Commerce is developing a list of prohibited and restricted import and export goods, enhancing the transparency and openness of trade management [9][10] - The list will allow for the relaxation of management measures on certain imported goods, significantly increasing the openness of trade in Hainan [10]

7月23日，国新办举行新闻发布会，介绍海南自由贸易港建设有关情况。 12月18日，海南将正式启动全岛封关运作。针对全岛封关运作后的税收制度改革问题，财政部副部长廖 岷对《每日经济新闻》记者表示，财政部将继续深化税制改革，包括稳步推进销售税改革研究工作。 首先是继续落实好企业所得税和个人所得税现行优惠政策，吸引更多符合自由贸易港建设需要的高端人 才和优质企业落地海南，助力自由贸易港发展。 其次是不断扩大"零关税"商品范围，适时调整进口征税商品目录。 再次是继续实施离岛免税购物政策，并结合消费者多元化购物需求，进一步优化调整政策安排，支持海 南建设国际旅游消费中心。 第四是积极研究岛内居民消费进境商品的相关税收政策，适时开展对岛内居民消费的进境商品实行正面 清单管理，允许岛内居民免税购买一些进口产品。这项试点工作将尽快开展，提升岛内居民的获得感。 第五是稳步推进销售税改革研究工作。"我们将按照稳妥有序、分步推进的原则，推动简化税制研究工 作，并根据海南自由贸易港建设发展情况适时进行测试实施。"廖岷说。 "销售税主要涉及增值税、消费税、车辆购置税、城市维护建设税，以及教育费附加等多项税费的合 并，涉及面比较广，情况 ...

Core Viewpoint - The Hainan Free Trade Port is set to officially start its closure operation on December 18, 2025, following five years of construction and the establishment of a preliminary policy system [1] Group 1: Tax Policy Changes - After the closure, independent legal entities registered in Hainan Free Trade Port will be exempt from import taxes on goods outside the taxable item catalog [1] - The range of "zero tariff" goods will expand significantly from 1,900 to approximately 6,600 tax items, covering about 74% of all goods, an increase of nearly 53 percentage points compared to before the closure [2] - The threshold for the processing value-added goods to be exempt from tariffs has been lowered, allowing more enterprises to benefit from the policy [2] Group 2: Ongoing Tax Reforms - The Ministry of Finance has introduced multiple tax policies, including duty-free shopping for outbound tourists and preferential corporate and personal income tax rates [3] - The Ministry will continue to implement existing tax incentives to attract high-end talent and quality enterprises to Hainan [4] - The Ministry plans to actively research tax policies for imported goods consumed by local residents, allowing for duty-free purchases of certain imported products [4]