Development Impacts and Opportunities of Hainan's Island-wide Customs Closure Policy

• This week's morning meeting shared the island-wide customs closure policy of Hainan Free Trade Port (FTP). The core of this policy is to build Hainan Island into a special customs supervision area, implementing a liberalized and facilitated system featuring "opening up the first line, controlling the second line, and free flow within the island". Customs closure does not mean closing the island; personnel entry and exit remain convenient without additional impacts on daily travel.

• The policy has far-reaching impacts on both Hainan and the mainland: Hainan will attract industrial agglomeration relying on the expanded "zero-tariff" policy to promote the upgrading of tourism, cross-border e-commerce and other formats; the mainland can connect with global resources through Hainan's open platform, forming a key hub linking domestic and international circulations. Meanwhile, simplified customs clearance processes enhance consumption convenience, and enterprises can also enjoy cost advantages and development opportunities, injecting new impetus into the coordinated development of regional economies.