In-Depth Analysis of the Impact of the Surge in Foreign Trade Entities in Hainan Free Trade Port on Regional Economy and Listed Companies

Based on the collected data and information, I will provide you with a systematic and comprehensive analysis report.

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According to the latest statistical data from the General Administration of Customs, foreign trade entities in the Hainan Free Trade Port have shown explosive growth[1]:

Time Node	New Registered Enterprises	Year-on-Year Change	Cumulative Total
Full Year 2025	31,000	+41.7%	Over 100,000
December 18, 2025 - January 10, 2026	4,709	24 days ≈ Q1 2024	Exceeded 100,000

This growth rate far exceeds the national average, and the number of new registrations in 24 days is equivalent to the level of one quarter of the full year 2024, reflecting that the policy dividends of full customs clearance operation are being rapidly released[1].

The Hainan Free Trade Port adopts an innovative supervision model of

[2]:

• Free Flow at the First Line
  : Highly liberalized flow of goods, capital, and personnel between Hainan and overseas; visa-free entry for citizens of 86 countries; fast clearance for eligible imported goods at 8 ports
• Controlled Flow at the Second Line
  : 10 supervision ports (such as Haikou Xinhai Port) are set up between Hainan and the Chinese mainland; classified inspection of goods entering the mainland; average clearance time for trucks reduced to 2.5 minutes
• Free Circulation Within the Island
  : Duty-free goods circulate freely among eligible entities; restrictions on enterprise equipment imports and cross-border capital flows are significantly relaxed

The scope of

goods has been significantly expanded from the original 1,900 tariff lines to approximately 6,600 tariff lines, covering 74% of imported goods[3].

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Full customs clearance operation has directly driven the rapid growth of Hainan’s foreign trade[1]:

Indicator	Post Customs Clearance (Dec 18, 2025 - Jan 10, 2026)	Year-on-Year Growth
Import and Export of Goods Trade	-	+19.6%
Imports	-	+13.3%
Exports	-	+31.6%

The duty-free consumption market in Sanya performed particularly well: on the first day of customs clearance, sales reached 118 million yuan, store foot traffic exceeded 36,000 person-times, with a year-on-year increase of over 60%, and sales increased by 85% year-on-year[4].

The Hainan Free Trade Port is building a

development framework[3]:

Extend and Supplement the Chains of Four Leading Industries
│
├─ Tourism
├─ Modern Service Industry  
├─ High-tech Industry
└─ Tropical Characteristic High-efficiency Agriculture

Five Development Directions for Strength
│
├─ Strength in Seed Industry (South Breeding Silicon Valley)
├─ Strength in Marine Economy (Deep-sea Technology)
├─ Strength in Aerospace Industry
├─ Strength in Green Development (Green and Low-carbon)
└─ Strength in Digital Economy

Four Emerging Future Industries
│
├─ Biomanufacturing
├─ Hydrogen Energy
├─ Brain-computer Interface
└─ Embodied Intelligence

Three Key Consumption Areas
│
├─ Duty-free Shopping
├─ Healthcare
└─ Education

The Hainan Free Trade Port is emerging as a key hub for regional linkage[5]:

• Inter-provincial Cooperation Industrial Parks
  : The Guangdong-Hainan Advanced Manufacturing Cooperation Industrial Park and Hunan-Hainan Co-constructed Advanced Manufacturing Industrial Park have launched 31 industrial projects with a total investment of nearly 14 billion yuan
• Logistics Channel Construction
  : Yangpu Port added a South America route, linking with the China-Laos Railway to form a land-sea channel; container throughput from January to November 2025 exceeded 2.77 million TEUs, with a year-on-year increase of over 70%
• Transshipment Capacity Improvement
  : The transshipment volume of Yangpu International Container Terminal surged by 293% year-on-year, and the growth rate of foreign trade transshipment volume reached 213%

Field	Performance After Customs Clearance
Offshore Duty-free Shopping Person-times	585,000 person-times, up 32.4% year-on-year
Offshore Duty-free Shopping Amount	3.89 billion yuan, up 49.6% year-on-year
Average Daily Shopping Person-times	24,000 person-times
Average Daily Shopping Amount	160 million yuan

The category of duty-free goods has been expanded from 45 to 47, adding electronic products such as digital photography equipment and micro-drones; the eligible beneficiaries have been further expanded to passengers departing from Hainan Island[1].

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Hainan Free Trade Port customs clearance concept stocks saw a full-scale surge around December 18, 2025, with the sector rising nearly 10% on that day and 22 individual stocks hitting the daily upper limit[4]. The recent performance of key targets is as follows:

Company Name	Stock Code	Industry	Market Value (100 million yuan)	2025 Growth Rate	Proportion of Hainan Business
China Duty Free Group	601888.SS	Duty-free Retail	12,800	45.5%	85%
Hainan Mining Co., Ltd.	601969.SS	Mining	120	143.3%	65%
Hainan Qiche Group Co., Ltd.	603069.SS	Transportation	180	85.2%	80%
Hainan Development Holding Co., Ltd.	600221.SS	Comprehensive	420	35.6%	70%
Hainan Airport Co., Ltd.	600515.SS	Airport Operation	521	23.9%	95%
Hai Xia Shipping Co., Ltd.	600736.SS	Shipping	150	28.4%	90%

, which significantly outperformed the broader market[6].

, as the world’s largest travel retail operator, is the core beneficiary of customs clearance[6]:

Indicator	Data
Current Stock Price	$90.05
Market Value	$175.82B
P/E Ratio (TTM)	54.80x
1-month Growth Rate	+13.70%
6-month Growth Rate	+46.19%
Current Ratio	5.82
Offshore Duty-free Market Share	Approximately 90%

Financial data shows that although the company is facing certain profit pressures recently (Q3 EPS missed expectations by 41.28%), its cash flow status is healthy, with the latest free cash flow reaching 6.82 billion yuan[6]. The substantial growth in offshore duty-free shopping person-times and amount after customs clearance will directly boost the company’s performance.

dominates the passenger-ro-ro transportation across the Qiongzhou Strait, a vital link between the Chinese mainland and Hainan, benefiting from the dual growth of passenger and cargo traffic.

, as the leading passenger transport enterprise in Hainan, has seen its logistics business benefit from accelerated circulation within the island, with a growth rate of 85.2% in 2025[4].

holds an absolute leading position in Hainan’s airport operation sector:

Indicator	Data
Current Stock Price	$4.56
Market Value	$52.10B
Proportion of Hainan Business	95%
1-year Growth Rate	+23.91%
6-month Growth Rate	+26.32%

As Hainan’s most important international aviation hub, Meilan Airport has seen a surge in business volumes such as cross-border e-commerce and bonded maintenance after customs clearance, directly boosting the airport’s non-aeronautical revenue[3].

Company	Beneficiary Logic
Polypharm Laboratories / Hainan Shuangcheng Pharmaceutical	Local Hainan pharmaceutical enterprises, enjoying policy convenience; accelerated formation of biomedical industry clusters
Jinpan Technology (Hainan) Co., Ltd.	Local Hainan high-end dry-type transformer manufacturer, benefiting from green infrastructure investment
CanSino Biologics	Cooperated with Hainan to build a vaccine industrialization base

According to the research report analysis of Guotai Haitong Securities and Western Securities[3], four types of targets will benefit significantly:

1. Foreign trade companies in Hainan
   : Benefiting from the duty-free import and export tax refund policies
2. Supporting construction enterprises for the free trade port
   : Benefiting from accelerated infrastructure investment
3. Tourism and consumption-related companies
   : Benefiting from increased consumption attractiveness brought by the expansion of duty-free scope
4. Local Hainan enterprises
   : Generally enjoying the policy dividends of “duty-free, low tax rate, simplified tax system”

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Risk Type	Specific Performance
Local price fluctuations	Due to increased inspection costs from “controlled flow at the second line”, prices of some agricultural products such as local vegetables rose in the short term[3]
Concerns about industrial homogenization	Need to prevent blind influx of low-end processing capacity, and balance ecological protection and opening speed
Customs clearance efficiency pressure	Port congestion may occur in the short term, requiring continuous optimization of supervision processes

• Improvement of industrial supporting facilities
  : The landing of high-end industries requires a complete industrial chain supporting system
• Talent introduction pressure
  : Although preferential individual income tax policies for high-end talents have been implemented, continuous efforts are needed to attract international talents
• Regional competition
  : Competition with mature free trade ports such as Singapore and Dubai

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1. The surge in foreign trade entities is a direct reflection of the policy dividends of customs clearance
   : The pace of 31,000 new additions in 2025 and 4,709 new additions in 24 days validates the attractiveness of the Hainan Free Trade Port system.
2. The regional economy is undergoing structural upgrading
   : Transforming from “policy pilot” to “institutional arrangement”, and upgrading from “policy empowerment” to “industrial agglomeration”.
3. Listed companies have benefited significantly
   : The performance and stock prices of leading companies in sectors such as duty-free retail, transportation, airport operations, and tourism consumption have been significantly boosted.
4. Long-term value is promising
   : With the in-depth implementation of the “duty-free, double 15%” policy, Hainan is expected to become a new global investment highland.

Risk Preference	Recommended Allocation
Aggressive	Focus on high-elasticity targets such as China Duty Free Group, Hainan Qiche Group, and Hainan Mining
Conservative	Pay attention to infrastructure targets such as Hainan Airport and Hai Xia Shipping
Long-term	Layout leading companies in emerging industries such as biomedicine and high-end manufacturing

: The construction of the Hainan Free Trade Port is a long-term national strategy. Investors should pay attention to the pace of policy advancement and changes in company fundamentals, and avoid short-term speculative hype.

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[1] Xinhua News Agency - Steady Progress in Building a Trade Power: Decoding the Foreign Trade Report Card of the Closing Year of the 14th Five-Year Plan (https://www.news.cn/fortune/20260115/b78e921862944b67bbd07b91918de507/c.html)

[2] Shipping Planet - Hainan, the Latest Opportunity for COSCO SHIPPING! Turn “Customs Clearance” into a “Take-off” Runway (http://m.shipping-daily.com/news/detail?id=6090)

[3] 21st Century Business Herald - Full Customs Clearance of Hainan Officially Launched: How Will It Affect Us? Which Industries Will Benefit? (https://www.21jingji.com/article/20251218/herald/20b04314c5a33222b5bdd5f78fd76097.html)

[4] Eastmoney - Hainan Customs Clearance Concept Stocks Surge! Sorting out Potential Beneficiary Listed Companies (https://caifuhao.eastmoney.com/news/2025122202716805933530)

[5] Chinese Embassy in the United States - On the Occasion of the Official Launch of Full Customs Clearance of Hainan Free Trade Port (https://us.china-embassy.gov.cn/chn/zggs/202512/t20251220_11777278.htm)

[6] Jinling AI Financial Database - Company Financial Data and Market Price Information

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: The above chart shows a four-dimensional analysis of the surge in foreign trade entities in Hainan Free Trade Port and its impact on the regional economy, including the growth trend of the number of foreign trade entities, the assessment of the impact of customs clearance operation on various industries, the comparison of market value and growth rate of Hainan concept stocks, and the comparison of foreign trade growth data before and after customs clearance. Data sources: General Administration of Customs, sorted from public information of listed companies.