It's time for Hainan to close the island.

Hainan will close the door to the island during the Tenth Five-Year Plan period, and Hainan will initially establish a free trade port policy system. Complete the tasks related to the first phase of the system arrangement of the free trade port, strive to have the hardware conditions for customs clearance by the end of 2023, and complete the customs clearance preparations by the end of 2024.

If Hainan is closed, the whole economy of Hainan Island will be self-contained, and foreign goods can enter Hainan Island directly without paying customs duties.

Hainan natives are free to buy low-priced duty-free goods, which is a zero-tariff privilege granted by the state to Hainan Island. However, goods without duty-free are not allowed to be taken out of Hainan, otherwise they will have to pay customs duties. In the future, goods produced in other parts of the mainland will need to go through corresponding export procedures when they are exported to Hainan Island.

Benefits of Hainan Island's closure:

Imported goods are more expensive, one of the most important reasons is that you have to pay taxes when you enter the customs, and this tax is zero in Hainan, so you don't pay it.

The closure of Hainan Island is a symbol of Hainan's industrial transformation. The era with tourism and real estate as the core is about to pass, and Hainan's industrial development will turn to manufacturing trade, high-tech industries and financial services.

After Hainan is closed to the whole island, the nature of residential real estate will gradually change into a "living+self-occupation" compound real estate, which is beneficial to Hainan's housing prices.

After the closure of the whole island, the development of Hainan Free Trade Port will undergo major changes, and the four major liberalization development dividends will soon be realized.

Hainan will usher in at least four major policy dividends in the era of island closure: free flow of funds+global opening of the Internet+free entry and exit of personnel+offshore trade and financial center. These four bonuses mean that Hainan has been at the forefront of China's opening up.