封关政策显著带动海南旅游市场升温，机票预订量迎来快速增长。2026年元旦期间，飞往海口、三亚的 机票预订量同比分别增长19%/51%，其中三亚作为核心免税目的地，机票需求增幅领先。国际客流同样 表现强劲，海口入境国际机票订单量增长超40%，2026年春节飞往海口的国际机票销售量更是同比翻 倍，俄罗斯、新加坡、澳大利亚等国成为主要客源地。旅游客流的持续涌入，为离岛免税消费提供了充 足的需求支撑，形成"旅游+免税"的良性互动格局。 信达证券（601059）发布研报称，海南自由贸易港于2025年12月18日正式启动全岛封关运作，封关运作 带来的政策红利直接惠及离岛免税消费领域。建议关注：商社免税赛道及海南板块相关标的：中国中免 （601888）(601888.SH，海南离岛免税龙头，全牌照+全渠道布局)、王府井（600859）(600859.SH， 2020年获离岛免税牌照，运营万宁王府井国际免税港，"免税+有税"双轨运营)、海南机场（600515） (600515.SH，机场流量+物业+参股三重参与，参股海口美兰机场免税店)、珠免集团（600185）(有税 +跨境为主，与三亚旅文集团合资运营"珠海免税-三亚旅投商 ...

Core Insights - The "Dongguan-Hong Kong International Air Cargo Center" has become a significant cross-border sea-air transport project, facilitating the export of high-end products from Dongguan to international markets, with a total import and export value exceeding 25.6 billion yuan since its launch in April 2023 [1] - Dongguan's import and export activities have shown resilience, with a year-on-year growth of 21.2% in the first quarter of this year, highlighting the vitality of its foreign trade [1] Group 1 - The Air Cargo Center has streamlined logistics by implementing innovative customs supervision reforms, such as "pre-inspection before packing" for exports and "unpacking before declaration" for imports, resulting in a 20% improvement in efficiency and a 30% reduction in overall costs [2] - The center has established a "green channel" for port and shipping enterprises, ensuring support in terms of land and funding, and has introduced a "white list" management system for lithium battery goods [2] - The collaboration between various stakeholders, including the Hong Kong Legislative Council and customs authorities, has led to the revision of laws and regulations, enhancing the efficiency of cross-border air transport [2] Group 2 - The establishment of innovative systems in various regions, such as the Hainan Free Trade Port and the Fujian Free Trade Zone, is facilitating smoother cross-border capital flows and significantly reducing the time for goods declaration and release [3] - The seamless connection from "factory gate" to "aircraft door" for high-end products is providing export companies with competitive advantages [3] - The focus on standard alignment, platform development, and policy collaboration is paving the way for a new high-level reform and opening-up landscape [3]