海南自贸概念14日盘中强势拉升，截至发稿，康芝药业20%涨停，海南海药、欣龙控股、海马汽车等均 涨停，海南发展、海南瑞泽等涨超6%。 未来海南将在加快打造文旅消费新场景的同时，建立以"零关税畅通贸易、低税率撬动增长"为特点的自 贸港税制体系，并以加工增值免关税政策为突破口，带动生物医药、海上风电、器械制造加工、数字内 容加工等战略性新兴产业，以及商业航天发射、国际教育等重点领域的快速发展。 该机构表示，建议持续跟踪政策兑现节奏、口岸封关进度及重点产业项目落地情况，重点关注海南文旅 免税、高端制造（如生物医药、商业航天）、制造加工、数字贸易等板块。"零关税+加工增值"的政策 叠加有望释放其中长期成长潜力。 财通证券指出，短期内海南自贸港将通过独特的政策优势承接供应链重构红利，在数字贸易、RCEP衔 接等领域"补位"；长期来看，其成功则依旧取决于能否通过持续的制度创新，从规则"适应者"蜕变 为"引领者"，在全球产业链重塑中占据有利位置。 消息面上，11月13日，位于三亚河入海口的三亚"双中心"项目正进行封顶后结构安装，施工进入冲刺阶 段。随着海南自贸港封关运作临近，各项重点工程正加快推进，以保障建设进度。 ...

Policy Implementation - As of September 2025, the "zero tariff" import value reached CNY 27.06 billion, with tax reductions amounting to CNY 5.09 billion[3] - Cumulative domestic sales under the processing and value-added tax exemption policy reached CNY 11.08 billion, with a customs duty exemption of CNY 0.86 billion[3] Economic Strategy - The Hainan Free Trade Port aims to enhance domestic and international dual circulation, linking with major economic regions like the Guangdong-Hong Kong-Macau Greater Bay Area and the Yangtze River Economic Belt[3] - The strategic mission of Hainan Free Trade Port is to leverage unique policy advantages to capture supply chain restructuring benefits, particularly in digital trade and RCEP integration[3] Industry Development - The focus is on establishing a modern industrial system with Hainan characteristics, promoting industry upgrades and technological integration[3] - Key sectors expected to grow include biomedicine, offshore wind power, equipment manufacturing, and digital content processing, supported by a low-tax system and zero-tariff policies[3] Investment Outlook - Continuous monitoring of policy implementation, port closure progress, and key industry project developments is recommended[3] - The combination of "zero tariffs + value-added processing" policies is anticipated to unlock long-term growth potential in sectors like tourism, high-end manufacturing, and digital trade[3] Risk Factors - Potential risks include slower-than-expected policy progress, economic growth below forecasts, and escalating geopolitical conflicts[3]