- On December 18, Hainan officially began its closed customs operation, marking a new phase in its free trade port development.
- The "zero-tariff" policy substantially expands the list of imported goods eligible for zero tariffs from about 1,900 to around 6,600 products, significantly benefiting businesses in the region.
- However, although the zero-tariff framework aims to enhance the attractiveness of the area for international brands and customers, competition has intensified, as both licensed and non-licensed vendors now benefit from the new regulatory environment.
