Core Insights - Hainan, China's largest economic special zone, is set to implement full island customs closure by December 18, 2025, marking a significant step in the country's openness with a substantial increase in the "zero tariff" product list from 21% to 74%, covering approximately 6,600 tariff items [1][3] Group 1: Customs Closure Countdown - The countdown to Hainan's full customs closure is less than 10 days, symbolically chosen to coincide with the anniversary of China's reform and opening-up [3] - Hainan's provincial secretary has confirmed that preparations for the customs closure are complete, indicating readiness for this milestone event [3] Group 2: Understanding "Customs Closure" - The term "customs closure" is often misunderstood; it refers to establishing Hainan as a special customs regulatory area with policies that allow for liberalized trade while maintaining control over domestic flows [5] - The policy framework includes "one line" for international trade and "two lines" for domestic management, ensuring both openness and regulation [5] Group 3: Policy Benefits Overview - Post-closure, Hainan will experience unprecedented policy benefits, particularly in tax and trade management, with the number of zero-tariff items expanding significantly [7] - The scope of beneficiaries will broaden from independent legal entities to include various enterprises and non-profit organizations across the island [7] - Trade management will become more relaxed, with the removal of import license requirements for 60 product codes, covering about 80% of previously regulated old machinery and electrical products [7] Group 4: Smart Port Operations - Smart regulatory systems are fully implemented at key ports, designed to handle significant traffic and cargo volumes, which are essential for the customs closure operation [10] - The customs process has been streamlined, allowing for rapid identification and processing of vehicles and cargo, enhancing efficiency [12] Group 5: Industry Opportunities - The customs closure will have a profound impact on various industries, particularly agriculture, by allowing tax-free imports of high-quality agricultural equipment and materials [14] - The policy encourages local processing of imported goods, fostering the development of deep processing in Hainan's agricultural sector [14] Group 6: Consumer and Tourism Experience - The new policies will enhance freedom for tourists, with an increase in the number of countries eligible for visa-free entry to Hainan, reaching 86 [16] - The duty-free shopping policy will be optimized to support Hainan's development as an international tourism consumption center [16] Group 7: International Perspective on Hainan - Hainan's customs closure is gaining international attention, seen as a significant move in China's strategy for greater openness amid rising global trade protectionism [18] - The region is positioned as a vital corridor for trade between Russia and China, with reduced barriers for business operations [18]