Closing policy "diversified expansion" Hainan Free Trade Port vitality bursts

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On March 26, a press conference celebrating 100 days since the closure of the Hainan Free Trade Port was held in Boao. Cai Qiang, a member of the Hainan Provincial Government Party Leadership Group and Secretary-General, stated in an interview with the Securities Daily that the operations of the Hainan Free Trade Port will bring new opportunities for business development. Currently, Hainan is accelerating the construction of a “45432” modern industrial system, which is based on Hainan’s resource endowment while also leveraging the policy dividends granted by the nation for the construction of the Hainan Free Trade Port, with the goal of making Hainan an important practical site for developing new quality productive forces.

Cai Qiang stated that industries and enterprises focusing on new quality productive forces are expected to gain better growth opportunities, and their future entry into the capital markets is also promising.

Policies Accelerated Implementation

At the press conference, Cai Qiang highlighted the core progress made during the 100 days since the closure. He noted that the proportion of “zero tariff” product categories has increased from 21% to 74%, reaching 6,637 items, which is higher than the initial level of RCEP. From December 18, 2025, to March 25, 2026, Hainan added 7,503 registered foreign trade enterprises, a year-on-year increase of 65.7%; a total of 11,773 operating entities have been approved for “zero tariff” benefits. The transaction volume of multi-functional free trade accounts (EF accounts) reached 137.6 billion yuan, with 990 accounts opened since the policy was introduced, and the transaction volume converted to over 450 billion yuan, with fund transfers occurring with 99 countries and regions.

In terms of port operations, Cai Qiang mentioned that in the 100 days since the closure, Hainan’s foreign trade imports and exports exceeded 80 billion yuan, a year-on-year increase of 32.9%; 186 transactions were conducted under the “zero tariff” policy, with a total commodity value of 1.696 billion yuan, resulting in a tax reduction of 271 million yuan, and the average customs clearance time was reduced by 26%. During the same period, the number of inbound and outbound travelers reached 861,000, a year-on-year increase of 36.3%, of which 217,000 entered without a visa, a year-on-year increase of 54.2%; the number of inbound and outbound flights was 6,077, a year-on-year increase of 30%, and the number of vessels was 1,393, a year-on-year increase of 15.2%. Meanwhile, all regulatory channels at the “second-tier ports” experienced no congestion, and 547 transactions were conducted under the duty-free policy for processed value-added goods, a year-on-year increase of 26.6%, with all new business scenarios successfully implemented.

Regarding the overall changes after the closure, Wang Fengli, Deputy Director of the Hainan Provincial Party Committee’s Deep Reform Office (Free Trade Port Working Committee) and spokesperson, stated that since the official launch of the island-wide closure operations in the Hainan Free Trade Port, the overall operations have been stable and orderly, with a good start, showing initial results in smooth flow of goods, ease of travel for people, and accumulation of traffic; the construction of the free trade port is exhibiting a vibrant new atmosphere. The closure policy’s “diverse expansion” and the “multiple overlaps” of existing policies have enabled Hainan to enter a golden window period characterized by concentrated release of policy dividends, accelerated formation of industrial ecology, and comprehensive enhancement of openness.

From the perspective of customs supervision, He Bin, a secondary inspector at Haikou Customs, introduced that the customs has implemented a “closure policy implementation officer system” to accurately guide enterprises in enjoying benefits. As of March 24, since the closure, customs has supervised “zero tariff” imports worth 1.669 billion yuan, with 271 million yuan exempted from tax; at the same time, a “smart + credit” regulatory model has been established, with 14 smart regulatory scenarios such as “zero tariff,” processing and value-added, and duty-free shopping launched, significantly simplifying over 60% of the declaration items for goods departing from the “second-tier” ports, further enhancing the convenience of customs clearance.

Enterprises’ Sense of Gain Continues to Strengthen

The changes brought about by the closure operations are not only reflected in customs clearance and openness but are also accelerating the transmission to the industrial and enterprise levels. Cai Qiang stated that Hainan is promoting the four leading industries of tourism, modern services, high-tech industries, and tropical characteristic efficient agriculture to supplement, extend, and optimize upgrades, cultivating and expanding the “five-directional strengthening” characteristic industrial chains focusing on agriculture, the sea, the sky, green initiatives, and digitalization, and proactively laying out future industries such as biomanufacturing, hydrogen energy, brain-computer interfaces, and embodied intelligence. The focus is on enhancing duty-free shopping, healthcare, and education as “three consumption articles.” In the 100 days since the closure, the sales amount of duty-free shopping on the islands reached 15.62 billion yuan, a year-on-year increase of 27.64%; 85,000 new business entities were added, a year-on-year increase of 39.87%; and 70,100 new enterprises were added, a year-on-year increase of 90.81%.

Regarding the cultivation of the capital market, Cai Qiang further stated to the Securities Daily that more listed companies are welcome to seek new development opportunities in Hainan. To support enterprise development, Hainan will, on one hand, promote the better direct reach of free trade port policy dividends to enterprises, and on the other hand, establish a free trade port construction investment fund, hoping to empower and cultivate more high-quality listed companies through the fund.

In terms of the business environment, Wang Xuehao, a member of the Party Leadership Group and Deputy Director of the Hainan Provincial Business Environment Construction Department, and spokesperson, stated that since the launch of the free trade port closure operations, Hainan has focused on policy implementation, “efficiently accomplishing tasks,” credit construction, and problem resolution in key areas, precisely exerting efforts to build a solid foundation for the high-quality development of the free trade port after the closure.

From the perspective of an open economy, Zhang Yuedong, a member of the Party Leadership Group and Deputy Director of the Hainan Provincial Department of Commerce, and spokesperson, told the Securities Daily that since the closure operations began, Hainan has actively aligned with international high-standard economic and trade rules, continuously amplifying the effects of free trade port policies. From January to February of this year, the province established 441 new foreign-invested enterprises, a year-on-year increase of 46%; actual foreign investment reached 4.05 billion yuan, a year-on-year increase of 11.4%.

In summary, the 100 days since the closure is both an important node for observing the operation of the Hainan Free Trade Port and a concentrated display of the effectiveness of policy implementation. As open policies continue to be implemented, the industrial system accelerates formation, and the business environment continuously improves, the achievements of Hainan Free Trade Port construction are transitioning from institutional design to practical development.

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