[海南广播电视总台]Dialogue with Boao｜Wu Xiaoqiu, Dean of the National Institute of Financial Research at Renmin University of China: The policy dividends after the Hainan Free Trade Port’s customs closure are being realized
Host: Hello, audience friends, welcome to the high-end interview column “Dialogue with Boao” of the Boao Forum for Asia 2026 Annual Conference. I am the host Ai Jing. The guest we invited today is Wu Xiaoqiu, dean and first-level professor of the National Institute of Financial Research at Renmin University of China. Hello, Professor Wu, welcome to our studio.
2026 is the 25th anniversary of the establishment of the Boao Forum for Asia. May I ask Professor Wu, in which year did you start attending the Boao Forum for Asia Annual Conference? How many years has it been now?
Wu Xiaoqiu: Since about 2014, there have been 13 sessions in total. Judging from the 13 sessions I have participated in, it should be said that there are new changes every year. It actually grows with the development of our country and the construction of Hainan. And it plays a particularly important role in the development of Hainan, especially in terms of ideological promotion.
Host: On December 18, 2025, the island-wide customs seal operation of the Hainan Free Trade Port was officially launched, and it will soon be 100 days old. I would like to ask Professor Wu, what kind of new progress and changes have you made in the 100 days of Hainan Free Trade Port’s customs closure operation? How do you observe it?
Wu Xiaoqiu: We can see some subtle changes in Hainan after the customs closure in almost 100 days. This change is gradual, and perhaps there will be greater changes in the future. For example, its policy dividends are being realized, including 15% corporate and personal income tax (preferential), as well as duty-free sales on outlying islands. You can see that the growth rate is very fast, about 30% in the same period. After the customs closure, the scale of import and export trade also increased by 29%, reaching 65.4 billion yuan. At the same time, the number of visa-free (entry) people also increased by 64% during the same period. The results of this customs closure operation in the past 100 days are quite obvious.
Host: The current international situation is accelerating its evolution. Under the new international situation, how can the Hainan Free Trade Port play a leading role in opening up to the outside world and promote high-quality development of the industry? What kind of good suggestions do you have?
Wu Xiaoqiu: I think it is very important to emancipate the mind and constantly explore how to form a series of policies and rules that match the free trade port. A very important goal is to turn the dividends of the policy into an increase in the flow of various factors, including more and more people, an increase in the flow of capital, the inflow of scientific and technological achievements, the inflow of goods, etc.
How to improve Hainan’s attractiveness is the most important task we face. We already have three attractions: First, the 15% personal and corporate income tax (preferential), and the basic amount of tax exemption for offshore goods. At the same time, starting from February 11, residents on the island will also have an unlimited tax exemption of 10,000 yuan for daily consumer goods. These are the attractions of Hainan.
What we are facing now is how to implement the central government’s policies and turn them into something that people can feel personally: “Coming here is safe, rewarding, and you can realize your entrepreneurial dreams and increase your wealth.” These are all things to think about carefully.
Moderator: Just now you commented on the development of the Boao Forum for Asia and the construction of the Hainan Free Trade Port, and put forward very good suggestions. You are also welcome to come to Hainan Free Trade Port more often when you have time and contribute your wisdom to the development of Hainan. Thank you Professor Wu!
Original link:[海南广播电视总台]Dialogue with Boao｜Wu Xiaoqiu, Dean of the National Institute of Financial Research at Renmin University of China: The policy dividends after the Hainan Free Trade Port’s customs closure are being realized
