Core Insights - The article discusses the collaboration between Hunan and Hainan provinces in establishing the Xiang-Qiong Advanced Manufacturing Industrial Park, which aims to leverage Hainan's free trade policies to benefit Hunan's manufacturing sector [1][12]. Group 1: Economic and Policy Advantages - Hunan enterprises are increasingly investing in Hainan due to the latter's favorable policies, including "zero tariffs, low tax rates, and simplified tax systems" [4][5]. - The Xiang-Qiong Industrial Park has already attracted 30 industrial projects with a total investment of 138.82 billion yuan, demonstrating its role as a key economic driver for the region [12][13]. - The park allows Hunan companies to enjoy significant cost savings, such as a 30% exemption on import tariffs for certain components, which is not available if they were to operate solely in Hunan [4][6]. Group 2: Project Development and Implementation - The Xiang-Qiong Industrial Park has seen rapid development, with projects like the Xiangke (Hainan) Special Equipment Innovation Base nearing completion and expected to begin trial production before the Spring Festival [3][12]. - The park's engineering machinery remanufacturing project exemplifies how companies can utilize Hainan's policies to reduce costs, achieving approximately 6% savings compared to remanufacturing in other regions [6][12]. Group 3: Cross-Provincial Cooperation and Challenges - The establishment of the industrial park represents a significant innovation in cross-provincial cooperation, addressing challenges such as efficient personnel collaboration and information sharing [9][10]. - A joint command structure has been created to facilitate daily operations and project implementation, showcasing a model for effective governance in cross-regional initiatives [10][11]. Group 4: Future Prospects - With the upcoming full closure operation of Hainan's free trade port, there is optimism that the Xiang-Qiong Industrial Park will further benefit from enhanced policy clarity and increased business interest [12][13]. - The collaboration between Hunan and Hainan is expected to contribute significantly to the national market and promote domestic and international dual circulation [12][13].