Group 1 - Gansu Province will continue to prioritize industrial strength and the development of a modern industrial system as a key task for high-quality development during the "14th Five-Year Plan" and beyond [1] - The province aims to build a national regional modern manufacturing base by implementing actions for upgrading traditional industries, promoting innovation, and developing future industries [1] - Gansu plans to enhance its status as a major base for renewable energy and equipment manufacturing, focusing on large-scale wind and solar power projects and improving energy transmission infrastructure [1] Group 2 - The province will strengthen its position as a national hub for integrated computing power networks by expanding computing capacity and enhancing collaboration with eastern regions [2] - Gansu aims to promote high-quality development in the service sector by integrating modern services with advanced manufacturing and modern agriculture [2] - The province will advance the construction of modern infrastructure, including major projects like the optimization of the Lanzhou railway hub and new highway corridors [2]

Core Viewpoint - The official launch of the full island closure of Hainan Free Trade Port marks a new phase in its development, aiming to transform policy advantages into high-quality growth and establish Hainan as a significant gateway for China's new era of opening up [2][3][14]. Policy Implementation and Economic Development - The full island closure is a milestone in the construction of Hainan Free Trade Port, emphasizing the need for effective implementation of policies to stabilize foreign trade and investment, expand consumption, and promote service industry development [3]. - Local governments are focusing on leveraging the unique resources and policies of Hainan Free Trade Port to attract investments in sectors like biomedicine, new-generation electronic information, and high-end food processing [3][4]. Infrastructure and Logistics - Yangpu Port has opened 65 shipping routes, serving as the largest maritime gateway for Hainan Free Trade Port, with plans to enhance logistics and industrial integration [4]. - The successful customs clearance of the first batch of duty-free goods at Qionghai Boao Airport signifies the deep integration of local economies into the Free Trade Port framework [5]. Industry Focus and Development Strategies - Various cities are developing modern industrial systems tailored to their unique advantages, such as Sanya's focus on deep-sea technology and tourism, and Qionghai's emphasis on medical tourism [3][5]. - The establishment of a "1243" modern industrial system in Lingao County aims to foster digital economy, green energy, and modern services, enhancing the region's economic resilience [7]. Social Welfare and Quality of Life - The full island closure is expected to enhance the development of social welfare initiatives, with local governments prioritizing education, healthcare, and employment opportunities to improve the quality of life for residents [8][9]. - Efforts are being made to ensure that the benefits of development are shared equitably among the population, with a focus on enhancing public services and social security systems [9][10]. Environmental Protection and Sustainability - Hainan Free Trade Port is committed to ecological preservation, with initiatives aimed at maintaining high environmental standards while promoting economic growth [11][12]. - Local governments are implementing measures to protect natural resources and promote green development, ensuring that ecological integrity is maintained alongside industrial growth [12][13].

Core Insights - The article discusses significant economic policies and events in China and Japan, highlighting the launch of the Hainan Free Trade Port and the Bank of Japan's interest rate hike, which marks a shift in monetary policy after decades of ultra-loose measures [9][11]. Group 1: Hainan Free Trade Port - The Hainan Free Trade Port officially commenced full island closure operations on December 18, 2025, implementing a series of tax and customs policies aimed at enhancing trade and investment [9]. - The port focuses on four main industries: tourism, modern services, high-tech industries, and tropical agriculture, differentiating its development from that of Hong Kong and Macau [10]. - The "zero tariff" policy aims to maximize trade facilitation and efficient flow of resources, covering 86 industries, with tax differences exceeding 10% in 10 sectors, thereby enhancing market stability and supporting the real economy [10]. Group 2: Bank of Japan's Monetary Policy - On December 19, the Bank of Japan raised its policy interest rate by 25 basis points to 0.75%, the highest level in 30 years, driven by persistent inflation and currency depreciation [11][12]. - This decision is seen as a critical step in Japan's economic transformation, aiming to balance inflation control with stable growth amid ongoing structural reforms and global economic changes [12]. Group 3: Government Meetings and Policies - The State Council of China emphasized the need for proactive implementation of economic policies to ensure a strong start to the 14th Five-Year Plan, urging departments to take responsibility and expedite the formulation of specific action plans [13][15]. - The People's Bank of China released the "Management Measures for the Identification of Beneficial Owners of Financial Institution Clients," effective January 20, 2026, aimed at enhancing anti-money laundering and compliance measures [17]. - A joint announcement by three departments introduced the "Price Behavior Rules for Internet Platforms," which regulates pricing practices to protect consumer rights and ensure fair competition among platform operators [18]. Group 4: Insurance and Financial Regulations - The draft "Asset-Liability Management Measures for Insurance Companies" was released for public consultation, aiming to strengthen asset-liability management and regulatory oversight in the insurance sector [20]. - The measures include establishing regulatory indicators and monitoring systems to prevent asset-liability mismatches and promote sustainable development in the insurance industry [20]. Group 5: Foreign Exchange Market - In November, China's banks recorded a foreign exchange settlement surplus of $15.7 billion, indicating a stable foreign exchange market amid ongoing global financial volatility [21]. - The stability in the foreign exchange market reflects China's resilience against external shocks, enhancing investor confidence and demonstrating the economy's ability to withstand fluctuations in the international market [22].

Core Insights - The Hainan Free Trade Port officially launched its first international large-scale exhibition, the 2025 China International Tourism Trade Fair, attracting over 1,000 international travel merchants from 101 countries and regions, showcasing Hainan's global connectivity [1][2]. Group 1: Event Overview - The event marked a significant gathering of global travel merchants, emphasizing collaboration opportunities beyond traditional tourism packages [2][3]. - The exhibition featured a diverse array of international exhibitors, expanding Hainan's global network to include participants from Europe, South America, and Central Asia [4]. Group 2: Industry Trends - There is a noticeable shift in focus among international exhibitors, moving from merely showcasing their offerings to exploring what Hainan can provide in terms of platforms for new product development [3][4]. - Discussions at the fair have evolved to include topics such as cross-border payment facilitation, data compliance, and joint talent development, reflecting a higher level of openness and collaboration [4]. Group 3: Hainan's Strategic Positioning - Hainan showcased a 12,000 square meter exhibition area, highlighting its comprehensive industrial landscape and consumer scenarios, with a focus on providing a "one-stop" solution for global tourists and businesses [4]. - The exhibition's thematic areas included "City Leisure and Aerospace Education" and "Vibrant Sports and Health Care," aiming to present Hainan as a holistic travel destination rather than a collection of isolated locations [4]. Group 4: Opportunities in Tourism - The fair illustrated the potential for integrating tourism with various industries, such as healthcare and e-commerce, with examples including a cross-border e-commerce center and a comprehensive health solution combining advanced diagnostics and insurance [7][8]. - Various innovative tourism models were presented, including "Tourism + High-tech Industry" and "Tourism + Modern Service Industry," showcasing how tourism can serve as a catalyst for broader economic development [8]. Group 5: Future Prospects - The conclusion of the fair marks the beginning of new collaborative opportunities, with the tourism sector in Hainan poised for significant growth and potential [10].

来源：经济学家圈 尹艳林："十五五"时期我国实现年均5%左右增长是完全有可能的 很高兴应邀参加腾讯财经愿景思享年会。今天的主题是"智变之时"。在世界百年变局和智能科技重塑经济的时代潮流中，中国经济发展面临巨 大机遇和新挑战。特别是"十五五"时期成为实现2035年远景目标乃至第二个百年奋斗目标的关键阶段。从中长期来看，中国经济的转型升级还 有哪些难点，哪些领域的改革亟待重点突破，如何推进下一阶段的改革发展，这个是大家很关心的问题。下面我想就这些问题跟大家做一些分 享。 但是我们必须看到，"十五五"时期我国发展环境面临深刻复杂变化，战略机遇和风险挑战并存，特别是国内发展不平衡不充分问题仍然突出， 有效需求不足，国内大循环存在卡点堵点，超大规模市场优势的发挥遇到障碍；新旧动能转换任务艰巨，制造业中传统产业仍占80%，先进制 造业和新兴产业占比还不高，原始创新能力不强，重点领域关键核心技术仍有待攻关突破，企业创新能力有待加强；农业农村现代化相对滞 本 后，城乡基本公共服务水平差距仍然较大，农业转移人口进城落户面临体制性障碍；就业和居民收入增长压力较大，居民财产性收入增长渠道 不畅，养老、医疗、教育、住房等民生保障存在 ...

Core Insights - The Hainan Free Trade Port officially commenced full island closure operations on December 18, implementing a system characterized by "one line open, two lines controlled, and free movement within the island" [1][18] - This marks another significant opportunity following Hainan's establishment as a province and economic zone in 1988, approval as an international tourism island in 2009, and designation as a free trade zone in 2018 [2][18] Group 1: Hainan's Unique Position - Hainan is the largest free trade port in China and globally, covering an area eight times that of Dubai, 31 times that of Hong Kong, and 46 times that of Singapore [2][19] - The geographical location of Hainan as China's second-largest island and the largest economic special zone provides it with unique advantages for reform and opening-up [4][20] - Hainan's role as a testing ground for reform is likened to that of Shenzhen in the early stages of China's opening-up [4][22] Group 2: Benefits of the Free Trade Port - The free trade port will create a special "inside customs, outside customs" regulatory area, allowing for the free flow of goods with zero tariffs between Hainan and international markets [6][23] - Hainan has opened visa-free entry to 86 countries and established multi-functional free trade accounts, enhancing its international connectivity [6][23] - The tax benefits include zero tariffs on most goods and a reduced corporate income tax rate of 15% for encouraged industries, making Hainan a tax haven [7][24] Group 3: Economic Growth Potential - Hainan's GDP is projected to reach 793.6 billion yuan in 2024, with the goal of surpassing one trillion yuan during the 14th Five-Year Plan period [26][30] - The province is shifting from a reliance on real estate to focus on tourism, modern services, high-tech industries, and tropical agriculture, with these sectors expected to account for over two-thirds of the economy by 2024 [30][31] - Hainan aims to develop a modern industrial system targeting emerging industries such as digital economy and green technology, while also enhancing its service trade capabilities [31][35] Group 4: Comparison with Hong Kong - Unlike Hong Kong, which serves as a global financial and trade hub, Hainan's strengths lie in its tourism and service sectors, with potential to develop as a shopping paradise and international tourism consumption center [34][36] - Hainan's unique status as the only free trade port with Chinese characteristics positions it as a key player in exploring new paths for high-level opening-up [36]

12月18日，由广东省人民政府新闻办公室举办的"'十四五'广东成就"深圳专场新闻发布会在深圳举行。 深圳市委副书记、市长覃伟中介绍了"十四五"时期深圳经济社会发展的总体情况和主要成就。 "深圳坚持以实体经济为本、制造业当家，加快构建更具国际竞争力的现代化产业体系。"覃伟中 说，"十四五"前四年，深圳战略性新兴产业增加值年均增长10%以上、占GDP比重提高到42.3%。建成 投产11个百亿级大型工业项目，先进制造业和高技术制造业增加值占规上工业比重分别达68.2%、 58.2%。集成电路、工业机器人、智能手机等等39种工业产品产量占全国比重超10%，消费级无人机等 深圳科技潮品热销全球。现代服务业增加值占服务业比重提高至76.5%。国家级专精特新"小巨人"企业 数量达1333家、跃居全国城市首位；境内外上市企业592家、瞪羚企业215家、独角兽企业42家，均位居 全国前列。 深圳还全方位建设创新之城，着力打造最好科技创新生态与人才发展环境，在"卡脖子"等领域加快向并 跑、领跑迈进。全社会研发投入从2020年的1510.8亿元增长至2024年的2453.1亿元、年均增长达 12.9%，总量居全国城市第二位；研发投 ...

Core Viewpoint - The implementation of the closure operation in Hainan Free Trade Port marks a significant step in China's reform and opening-up strategy, aiming to enhance trade and investment facilitation while aligning with international economic rules [1][2][7]. Group 1: Changes and Developments - The closure operation is described as "four improvements": more favorable, more relaxed, more convenient, and more efficient [1]. - Hainan Free Trade Port is positioned as a "testbed" for China's reform and opening-up, serving as a demonstration area for ecological civilization and an international tourism consumption center [2]. - The unique policy advantages of Hainan include zero tariffs on 74% of goods and a 15% corporate income tax rate, which are part of the efforts to attract high-end talent and facilitate service trade [3]. Group 2: Operational Challenges - Despite advancements in infrastructure, there is a need to improve service awareness, efficiency, and the overall business environment to support the free trade port's development [4]. - The concept of "closure" is a customs term that allows for the regulation of goods entering Hainan, with specific measures to prevent smuggling while facilitating trade [4]. Group 3: Future Goals - The next decade will focus on aligning with global standards for trade and investment liberalization, aiming to reduce investment costs and foster industrial agglomeration [5][6]. - Hainan aims to enhance the proportion of modern service industries and high-tech sectors, providing significant employment opportunities and increasing per capita GDP to at least the national average [6]. Group 4: Strategic Advantages - The closure operation reflects China's commitment to globalization and regional cooperation amidst rising protectionism and unilateralism globally [7]. - Hainan's strategic location within the RCEP market positions it as a key player in facilitating trade between China and ASEAN, aiming for high-standard international development [7].

Core Viewpoint - The construction of Hainan Free Trade Port is a significant initiative for China's high-level opening-up and is strategically positioned as a key gateway for the country's new era of reform and opening-up [5][10]. Group 1: Historical Context and Strategic Importance - The Hainan Free Trade Port's full island closure is set to officially launch on December 18, 2025, marking a historic milestone in China's reform and opening-up journey [4]. - The initiative is a direct response to the strategic vision laid out by Xi Jinping, emphasizing Hainan's role as a major portal for international trade and investment [5][8]. - Hainan's geographical advantages position it as a critical link between domestic markets and Southeast Asia, enhancing its strategic importance in global trade [6]. Group 2: Policy Framework and Implementation - The "1348" strategic framework has been developed to guide the construction of the Free Trade Port, clarifying its objectives and implementation strategies [9]. - Key policies and regulations, including the "Overall Plan for Hainan Free Trade Port Construction" and the "Hainan Free Trade Port Law," have been established to support the initiative [8]. - The focus on institutional innovation and policy implementation is crucial for attracting domestic and international business to Hainan [12][14]. Group 3: Economic Development and Investment - Hainan's economy has shown significant growth, with an annual increase in foreign direct investment exceeding 1 trillion yuan and a 14.6% annual growth rate [18]. - The province has successfully attracted over 1500 high-tech enterprises, contributing to a modernized industrial system that accounts for 67% of its GDP [21]. - The Free Trade Port is expected to enhance Hainan's economic openness, with trade volume growing at an annual rate of over 30% [18]. Group 4: Social and Environmental Considerations - The development of Hainan Free Trade Port is aligned with improving the quality of life for its residents, focusing on enhancing public services and social welfare [26][27]. - Hainan is committed to ecological preservation, with initiatives aimed at maintaining its natural resources while promoting sustainable economic growth [31][34]. - The province's efforts in environmental protection are reflected in its high standards for ecological civilization, aiming to balance economic development with environmental sustainability [31][32]. Group 5: Future Outlook and Challenges - The launch of the Free Trade Port is viewed as a starting point for deeper integration into the global economy, with ongoing efforts to enhance Hainan's role as a hub for international trade [46]. - Continuous reforms and innovations are necessary to address potential risks and ensure the successful implementation of the Free Trade Port initiative [37][38]. - Hainan's leadership emphasizes the importance of maintaining a stable and secure environment to support the ambitious goals of the Free Trade Port [39][40].

记者丨洪晓文 编辑丨张星 2025年12月18日，海南自贸港全岛封关正式启动。封关运作是实施以"'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。 "一线"放开，就是将海南自由贸易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， 就是将海南自由贸易港与内地之间作为"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。 对海南自贸港企业而言，封关运作后多项政策将持续释放红利。"零关税"商品数量将显著增加，覆盖约74%的商品税目，惠及医 药、高端食品加工等重点产业。享惠主体范围也全面扩大，基本覆盖全岛有实际进口需求的各类企事业单位。截至目前，海南自贸 港鼓励类产业条目已扩至1100多个，涵盖生物医药、海上风电、专用汽车制造、绿色建材生产等，相关企业可享受15%的企业所得 税优惠。 海南自贸港封关将给海南乃至全国带来哪些新变化？对国内国际投资者以及区域经贸合作，又有哪些影响？近日，21世纪经济报道 在第六届"海洋合作与治理论坛"期间对华阳海洋研究中心理事长、中国南海研究院学术委员会主席吴士存进行了专访。 ...