中新网海口1月29日电 (记者张茜翼)海南省人大常委会副主任苻彩香29日在海南省七届人大五次会议上 作海南省人民代表大会常务委员会工作报告时表示，今年海南省人大常委会将围绕完善与高水平自由贸 易港相适应的政策制度体系加强立法。 2026年是"十五五"规划开局之年，也是海南自贸港全岛封关运作后首年。苻彩香说，海南省人大常委会 将更加重视运用海南自由贸易港、经济特区法规制定权，推进探索性、创新性、引领性立法，推动海南 自由贸易港政策制度体系加快完善；更加重视"小切口""小快灵"立法，及时为海南自由贸易港建设和改 革发展稳定提供法律支持；更加重视行政审批方面的立法。拟安排制定跨境金融、低空经济、机器管招 投标、政务服务领域中介机构管理、城市更新、网络安全、家庭教育等方面的法规。 据介绍，2025年，海南省人大常委会以保障海南自由贸易港封关运作为重点，推进科学立法、民主立 法、依法立法，先后审议通过省级法规和法规性决定45件，其中制定海南自由贸易港法规12件；批准市 县法规13件。 苻彩香表示，海南以立法推动自由贸易港政策制度体系建设。重视口岸管理这一封关运作关键环节的立 法，制定口岸管理服务试行条例，着眼于构建高效 ...

Core Insights - The total amount of cross-border RMB payments in Tianjin is expected to exceed 630 billion yuan by 2025, marking a 17% year-on-year increase and setting a historical record [1] - This growth has been supported by a collaborative effort among multiple government departments and the establishment of a special task force to enhance service efficiency for enterprises [1] Group 1: Cross-Border RMB Payment Growth - The cross-border RMB payment volume for goods trade in Tianjin is projected to grow by 24% year-on-year by 2025, with RMB transactions accounting for over 30% of total foreign and domestic currency settlements [1] - The cross-border RMB business related to new foreign trade formats in Tianjin is expected to achieve a rapid growth rate of 110% by 2025 [1] - The issuance of "Panda Bonds" by foreign enterprises in Tianjin is anticipated to reach 6.8 billion yuan, reflecting a 130% year-on-year increase [1] Group 2: Financial Innovation and Support - The People's Bank of China Tianjin Branch is guiding financial institutions to leverage RMB financing advantages, creating customized cross-border usage "roadmaps" for enterprises [1] - The cross-border RMB business in financing leasing is projected to grow by 78% year-on-year by 2025 [1] - The expansion of cross-border RMB convenience policies has led to a significant increase in the number of recognized quality enterprises from over 1,600 to 9,000 [2] Group 3: Regional Collaboration - The cross-border RMB convenience policy has evolved from mutual recognition among the Beijing-Tianjin-Hebei region to a broader alliance involving 16 regions nationwide [2] - Enterprises included in the mutual recognition list can complete related business operations with minimal requirements, enhancing efficiency and convenience [2] - Tianjin has cumulatively processed over 540 billion yuan in cross-border RMB convenience transactions [2]

Group 1 - The core viewpoint of the Shanghai "14th Five-Year" planning proposal emphasizes the acceleration of building "five centers" to enhance the city's capabilities and competitiveness, with a focus on futures and derivatives [1] - The proposal aims to strengthen Shanghai's position as an international financial center by establishing a global RMB asset allocation center and risk management center, expanding cross-border and offshore financial services, and promoting RMB internationalization [1][2] - It highlights the need for a robust financial market system, promoting direct financing, enhancing capital market functions, and developing a multi-tiered equity market while also focusing on the orderly development of futures and derivatives markets [2] Group 2 - The proposal includes plans to enhance the international trade center by strengthening the resource allocation function of bulk commodities and supporting the establishment of a national bulk commodity warehouse registration center [2] - In the context of building a global leading international shipping center, the proposal emphasizes the development of modern shipping services and the establishment of a world-class shipping exchange [3] - It supports the expansion of shipping financial services, including insurance and financing leasing for ships and aircraft, while also promoting the use of RMB for shipping freight settlements [3]

海南自贸港封关运作不仅是我国构建高水平对外开放新格局的战略布局，更是应对全球贸易格局调整、 破解保护主义壁垒的主动作为。通过打造"境内关外"特殊监管区域，海南自贸港承担着探索国际贸易新 规则、构建与国际高标准经贸规则衔接制度体系的核心使命，其制度设计蕴含鲜明的战略导向与系统思 维。 从政策设计逻辑来看，封关运作是海南自贸港政策体系的核心支撑。不同于传统自贸试验区的局部试 点，海南自贸港以全岛封关为依托，构建了覆盖贸易、投资、税收、金融、监管等多领域的系统性开放 制度框架。其中，"零关税"对除2323个敏感商品外的绝大多数商品免征进口关税及相关附加税，从源头 降低贸易成本；"低税率"为符合条件的企业提供15%的企业所得税优惠，提升投资吸引力；"简税制"简 化税制结构、清理收费，降低制度性交易成本。这些政策通过"一线放开、二线管住"监管框架形成协 同，实现开放与安全的动态平衡。 从实践价值来看，海南自贸港是全球首个海岛型自贸港，封关探索无现成经验可循，具有鲜明的开创 性。封关以来的平稳运行，既验证了政策设计的科学性与可行性，也为全国其他地区开放实践提供了可 复制推广的制度经验，彰显了我国制度型开放的韧性与活力。 ...

Core Insights - The Guangzhou Nansha District is experiencing significant policy effects from the "Nansha Plan," particularly in tax incentives, market access, and financial openness, with key indicators showing accelerated development outcomes [2][3] Tax Incentives - Since the implementation of three regional tax incentive policies in 2022, by the end of November 2025, 60 enterprises in Nansha have benefited from a 15% corporate income tax reduction, resulting in a total tax relief exceeding 2.1 billion yuan [2] - Personal income tax reductions for Hong Kong and Macau residents have reached 150 million yuan, with an average tax burden decrease of over 50% [2] - The Qicheng Hub area has become a popular location for Hong Kong and Macau enterprises, with over 210 registered and settled companies in the Yuexiu iPARK Guangdong-Hong Kong Smart Valley [2] Market Access - The "Nansha Opinions" issued by three national ministries in 2023 have facilitated institutional openings in sectors such as biomedicine and intelligent unmanned systems [3] - Nansha has achieved several national firsts in clinical applications related to cell and gene therapy, including treatments for thalassemia and liver failure [2] - Over 40 well-known enterprises in the cell and gene field have gathered in the district, with multiple stem cell treatment projects entering clinical application stages [2] Financial Openness - The "Nansha Financial 30 Measures" released in May 2025 support the establishment of a cross-border financial hub, leading to significant financial innovations [3] - Nansha successfully executed Guangdong's first foreign currency direct borrowing for a financial leasing company and expanded the foreign debt quota for a subsidiary to nearly 2.5 billion yuan [3] - The Free Trade Account (FT Account) system has opened over 9,700 accounts, with cross-border settlement volume reaching 4.92 trillion yuan, significantly reducing the time for capital settlement for Hong Kong-funded enterprises by over 50% [3] Policy Synergy - The interlinking of tax incentives, relaxed market access, and financial openness has created a comprehensive support system covering industrial incentives, institutional innovation, and financial backing [3] - Nansha aims to continue promoting policy implementation and deepen the integration of Guangdong-Hong Kong-Macau regulations to build a global cooperation platform [3]

Core Insights - The "Nansha Plan" has successfully achieved its first phase goals by 2025, positioning Nansha as a significant national strategic platform that integrates the Greater Bay Area, collaborates with Hong Kong and Macau, and engages with the global market [1] Tax Incentives and Economic Growth - Since the implementation of three regional tax incentives under the "Nansha Plan" in 2022, a total of 2.1 billion yuan has been saved in tax reductions for enterprises, and 150 million yuan in personal income tax has been waived for Hong Kong and Macau residents, resulting in an average tax burden reduction of over 50% [1] - Guangzhou Jiesen Entertainment Development Co., Ltd. reported a sixfold increase in sales revenue in 2024, attributed to the supportive policies of the "Nansha Plan" [2] - The Qingsheng Hub area, a pilot zone in Nansha, has seen a fivefold increase in the number of Hong Kong and Macau enterprises over three years, with over 210 registered and settled companies [2] Healthcare and Innovation - The "Nansha Opinions" have initiated institutional reforms in the fields of biomedicine and intelligent unmanned systems, allowing for clinical applications of restricted cell transplantation technologies [3] - Nansha has achieved significant breakthroughs in cell and gene therapy, including the first clinical application of Mediterranean anemia treatment and the first allogeneic stem cell treatment for liver failure [3] - By June 2025, 38 patients with Mediterranean anemia had successfully been discharged after treatment in Nansha, demonstrating accelerated clinical application [3] Financial Support and Cross-Border Financing - The "Nansha Financial 30 Measures" aim to enhance cross-border financing efficiency, addressing traditional challenges such as lengthy approval processes and strict capital controls [3] - The first foreign currency direct loan for a financial leasing company in Guangdong Province was successfully executed, along with an expanded foreign debt quota for a subsidiary of China Southern Airlines International Financing Leasing [3] Climate Financing and Sustainable Development - Nansha has been recognized for three consecutive years as the best in institutional innovation within Guangdong Free Trade Zone and has developed the first set of local standards for climate financing cooperation among Guangzhou, Hong Kong, and Macau [4] - Innovative financial products such as the first "climate financing guarantee" loan and the first "climate financing + rural revitalization" sustainable development-linked loan have been introduced [4] - Nansha aims to create a high-quality development loop through the integration of industrial incentives, institutional innovation, and financial support, establishing itself as an ideal location for investment and innovation [4]

他也对海南的未来充满了憧憬，尤其是政策试点、自贸港都在循序渐进，未来或有更大的突破。海南有 一句口号，中国的海南岛世界的自贸港，既要吸引内地的中资企业，也要做一些全球化的布局。 以下为部分发言实录： 由三亚市人民政府主办，《财经》杂志、财经网、《财经智库》、三亚中央商务区管理局、三亚经济研 究院承办的"三亚·财经国际论坛暨第五届三亚财富管理大会"12月27日在海南三亚举行，主题为"海南自 贸港未来定位及三亚新机遇"。 12月27日，跨境金融研究院院长王志毅在《打造离岸贸易与跨境投融资新高地》论坛上表示，离岸贸易 跨境投融资在政策方面，首先是要确保政策的连续性跟稳定性，要能够给企业一个比较好的预期，特别 是外资企业。目前形式下，跨境资金很难实现无因自由流动，一定是在既有的监管框架内能够更加给企 业更大的便利。 跨境金融研究院院长 王志毅 他表示，政策是把企业吸引过来的第一步，能把企业的资金、人员留在海南，这个需要服务能级的高 地，类似于新加坡、香港政府，做好服务，帮助企业真正的政策执行落地，这个可能海南需要长期坚持 的。 回到讲的政策的执行口径，我想说的所谓政策透明稳定可预期，是不是海南成立半年以上就能够开EF ...

三亚•财经国际论坛暨第五届三亚财富管理大会12月27日在海南三亚举办。跨境金融研究院院长王志毅 出席并发言。 谈到离岸贸易跨境投融资，王志毅认为，在政策方面，最应做的是确保政策的连续性与稳定性，给企业 特别是外资企业一个较好的预期。否则，有了好政策，过段时间又调整，最终吸引来的可能只是短期套 利企业，而非真正想在海南长期发展的企业。 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任编辑：王翔 专题：2025三亚•财经国际论坛 专题：2025三亚•财经国际论坛 三亚•财经国际论坛暨第五届三亚财富管理大会12月27日在海南三亚举办。跨境金融研究院院长王志毅 出席并发言。 谈到离岸贸易跨境投融资，王志毅认为，在政策方面，最应做的是确保政策的连续性与稳定性，给企业 特别是外资企业一个较好的预期。否则，有了好政策，过段时间又调整，最终吸引来的可能只是短期套 利企业，而非真正想在海南长期发展的企业。 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点或证实其描述。 责任 ...

2025 年 12 月 23 日 策略研究团队 以开放破壁垒，海南自贸港建设迈向新起点 ——投资策略专题 韦冀星（分析师） 简宇涵（分析师） weijixing@kysec.cn jianyuhan@kysec.cn 证书编号：S0790525050005 核心要义："封关"不是"封岛"，而是更高水平的开放 自 2025 年 12 月 18 日起，海南自由贸易港正式启动全岛封关运作。"封关"，绝 对不是把海南岛封闭起来，恰恰相反，其核心是将海南全岛设立为一个海关监管 特殊区域，实施一套全新的管理制度。封关运作的核心模式可以概括为 "一线 放开、二线管住、岛内自由"。在"一线"，海关对进入海南的绝大多数货物，特 别是列入"零关税"负面清单管理的货物，采取极简化的通关模式；"二线"指 的是海南与内地之间的边界。这里会对从海南进入内地的货物进行精准管理，主 要是针对从"一线"进来的免税货物、加工增值货物等，防止其未经征税直接冲 击内地市场；在海南岛内部，致力于创造一个要素自由流动、规则高度统一、运 营成本低廉的营商环境。 对中国而言，是制度型开放的新高地。海南的封关运作标志着中国对外开放从以 商品和要素流动为主的" ...

Group 1: Policy Overview - The Hainan Free Trade Port's closure policy aims to enhance market vitality and openness by reducing institutional costs through "zero tariffs," trade management relaxation, and efficient supervision[5] - "One line open" allows free movement of goods between Hainan and foreign countries, while "two lines control" regulates goods entering the mainland, ensuring tax security and preventing smuggling[5][17] - The proportion of "zero tariff" goods will increase from 1,900 to approximately 6,600 items, covering 74% of all tariff items, significantly reducing import costs[9] Group 2: Economic Impact - Hainan's policies are expected to attract global resources, enhancing its role as an international resource allocation hub[5] - The personal income tax rate for high-end and scarce talents in Hainan is capped at 15%, significantly lower than the mainland's 25%, attracting high-income individuals[27] - The corporate income tax rate for eligible enterprises is reduced to 15%, encouraging talent retention and investment[29] Group 3: Industry Development - Hainan's focus on processing and value-added tax exemptions is driving the clustering of high-tech enterprises and industrial upgrades, particularly in energy, digital economy, and biomedicine[24][30] - Key industrial parks in Hainan, such as Yangpu and Haikou, are becoming hubs for high-end industries, contributing over 30% of total tax revenue despite occupying less than 1% of the land area[32] Group 4: Regional Collaboration - The "front store, back factory" model is evolving, with Hainan serving as an order and trade settlement center while surrounding provinces handle large-scale production[45] - Enhanced logistics capabilities at Hainan's ports and airports are expected to create a complementary port cluster with Guangdong and Guangxi, improving regional cooperation and trade efficiency[45]