Last weekend, Hainan Special Economic Zone ushered in a heavy profit, Hainan boiled! At the opening of the market today, the Hainan plate rallied.
First look at the overall situation of the stock market, today's opening, the Shanghai Composite Index, Shenzhen Stock Exchange and the Shanghai and Shenzhen 300 have fallen, as of the close, the decline was 1.53%, 0.61% and 1.61%, respectively, only the entrepreneurial index rose 0.77%.
However, today's Hainan plate broke out after the opening, and 21 stocks such as Hainan Rubber, Luo Niushan, Straits and Hainan Expressway all went up.
Looking back at the situation on Friday, the Shanghai Composite Index fell 0.65% to close at 3,159.39 points; the Shenzhen Component Index fell 0.37%, and the ChiNext fell 0.13%. Among them, gold, intellectual property, Hainan, and chemical drugs were among the top losers. Undoubtedly, the news on the weekend made the Hainan plate set off a wave of ups and downs.
Hainan Free Trade Port set sail
On the news, on April 13, Xi Jinping attended the 30th anniversary of the establishment of the special economic zone of Hainan Province and delivered an important speech, announcing the construction of the Hainan Free Trade Pilot Zone and the free trade port with Chinese characteristics. On April 14, the State Council issued the "Support for Hainan." Guideline for comprehensively deepening reform and opening up.
The Opinions states:
1. By 2020, important progress has been made in the construction of the free trade pilot zone, and the international openness has been significantly improved. By 2025, the free trade port system has been initially established and the business environment has reached the domestic first-class level;
2. Encourage the development of beach sports, water sports, horse racing and other projects to support the creation of a national sports tourism demonstration zone.
3. Explore the development of quiz-type sports lottery tickets and large-scale international events that are open lottery tickets.
4. Accelerate the promotion of new energy vehicles and energy-saving and environmentally friendly vehicles, and gradually ban the sale of fuel vehicles in Hainan Island.
5. Implement a more open and convenient island-free duty-free shopping policy to achieve full coverage of outlying island passengers and increase tax-free shopping quotas.
6. Fully implement and improve the policy of Boao Lecheng International Medical Tourism Pioneer Zone, encourage the development and application of new medical technology, new equipment and new medicines, and formulate a facilitation policy to support overseas patients to the first-row district.
7. Support Hainan to open a transnational cruise travel route, support the cruise port of Sanya and other cruise ports to carry out pilot flights on the sea route, and accelerate the development of Sanya to the domestic port of the cruise.
8. Building “Digital Hainan”. Promote the full coverage of urban and rural fiber optic networks and high-speed mobile communication networks, accelerate the implementation of information into the village to enter the household project, and strive to improve the communication support capacity of the South China Sea.
9. Encourage Hainan tourism enterprises to optimize and restructure, support eligible enterprises to go public, promote the scale, brand and network operation of the tourism industry, and form a group of internationally competitive tourism groups.
10. It is necessary to formulate plans, stabilize market expectations, and resolutely prevent speculation in speculation.
At the same time, the development goals were formulated:
By 2020, important progress has been made in the construction of the free trade pilot zone, and international openness has increased significantly. By 2025, the quality and efficiency of economic growth will increase significantly; the free trade port system will be initially established, and the business environment will reach the domestic first-class level.
By 2035, it will be at the forefront of the country in the socialist modernization drive; the institutional system and operation mode of the free trade port are more mature, and the business environment is among the highest in the world.
Institutions: Focus on key areas of benefit
Minsheng Securities said that the "Guidance Opinions" focused on the top ten industries: seed industry, medical care, education, sports, telecommunications, Internet, culture, maintenance, finance, and shipping. It is required to focus on these key areas, deepen the opening up of modern agriculture, high-tech industries and modern service industries, promote the accelerated development of service trade, protect the legitimate rights and interests of foreign investment, and promote the gradual opening of shipping.
Ping An Securities Strategy commented on the medium and long-term investment opportunities of Hainan's reform and opening up, tourism (sightseeing, sports tourism, hotel entertainment, etc.), modern service industry (finance, education, sports and culture) and high-tech industries (new energy vehicles and The new development opportunities of green environmental protection, information technology, biomedicine, modern agriculture and marine economy are not limited to the expansion of the Hainan market, but also benefit from the global market, capital and technology interaction under the full opening, new business model The liberalization of the industrial policy under the height of China’s reform and opening up strategy. The investment opportunities for reform and opening up in Hainan are not limited to Hainan. The new plan is committed to promoting Hainan to become a new benchmark for comprehensively deepening reform and opening up in the new era. In particular, the development of its high-tech industry will play an important positive and long-term perspective on China's emerging economy. The demonstration pulls the action, and the investment opportunities of the corresponding industry deserve the long-term key allocation of the equity market.
The GF strategy believes that the core points of Hainan's policy are: 1) gradually explore the construction of a free trade port based on the experience of the free trade zone; 2) Hainan reshapes the four strategic orientations, promotes opening up at a higher starting point; 3) revolves around tourism and modern service industries. And the high-tech industry to build a free trade port with Chinese characteristics.
The Hainan Free Trade Port Policy will help to enhance the market's risk appetite for the Hainan plate. It is recommended to focus on the key beneficiary industry chain: 1) Main line 1: Infrastructure priority. It is recommended to focus on the transportation sector of “sea, land and air” (port, highway, aviation). 2) Main line 2: "Tourism +" is based. On the one hand, it is recommended to pay attention to traditional tourism elements (hotels, scenic spots, restaurants, etc.); on the other hand, it is recommended to focus on cultural sports (horse racing, gaming, games, etc.), agricultural, medical and other derivative industrial chains. 3) Main line three: ring protection. It is recommended to focus on areas such as landscaping.
Huachuang strategy believes that for Hainan, special economic zones, ecological provinces, international tourist islands, and Nanhai major towns are their core positioning. These major industries and their associated infrastructure, ports, aviation construction or “heavy Zhongzhi” Heavy". Therefore, it is recommended to focus on five major subdivisions: ecological gardening, tourism, local building materials, ports and aviation, and tax incentives. The main focus is: Hainan Ruize, Straits, China International Travel, Hainan Express, and Hainan Rubber. Focus on Hainan Ruize, China International Travel, and the Straits shares.
List of 30 A-share listed companies in Shanghai South:
The Three Elements of Hainan Free Trade Port Construction
Source: GF Securities
1) What is the difference between Hainan Free Trade Zone and Free Trade Port?
What is a free trade zone? According to the definition of the US Customs Committee, the free trade zone is different from the general customs territory in terms of exemption tariffs for goods used for re-export, and is an independent blockade where exemptions can be exempted as long as imported goods do not flow into the domestic market. What is a free trade port? According to the 17th National People’s Daily Vice Premier Wang Yang’s article in the People’s Daily in November, the free trade port is a special area set up outside the country (region), with the freedom of entry and exit of goods and funds, and the exemption of tariffs on most goods. The special economic function zone with the highest level of openness. Starting from the definition, compared with the free trade zone, the Free Trade Port has a wider area, a greater degree of free circulation, and a more special mode of operation:
The Free Trade Port area is more extensive. The Freeport is usually located in a seaport (and sometimes an airport) city, and includes the entire city (such as Hong Kong, Singapore, Rotterdam, Dubai, etc.), while the Free Trade Zone is an area delineated around the city (such as the Overseas Takahashi Free Trade Zone).
The Free Trade Port has a wider range of free circulation. The free trade zone focuses on the free flow of goods, and the Free Trade Port is committed to all-round opening. In addition to trade freedom, it also includes freedom of investment, freedom of employment, freedom of operation, and freedom of entry and exit of business personnel.
The Free Trade Port usually adopts the “inside customs” mode of operation. From a geographical perspective, the free trade port is in the territory, but from the perspective of administrative supervision, it is outside the customs management level. Compared with the Free Trade Zone, the Free Trade Port is more special in customs supervision and taxation arrangements. The typical free trade ports in Singapore, Dubai and Hong Kong have formed a regulatory model of “first-line liberalization, second-line management, and regional freedom”. .
For Hainan, the free trade zone can be seen as an intermediate form towards the free trade port, with narrower scope and functions, and relatively lower requirements for regulatory precision. Therefore, we believe that Hainan will be committed to itself. Based on the experience of the trade zone and combined with successful foreign cases, we will gradually explore the construction of an international free trade port. The key and difficult point lies in the design of supervision and other systems.
2) Why did you choose Hainan International Free Trade Port?
For the world, the "Free Trade Port" reflects China's new heights and new measures for reform and opening up; for Hainan, whether it is building a free trade pilot zone on the island or promoting the construction of a free trade port with Chinese characteristics, it is a local historical development. opportunity. We believe that the Party Central Committee decided to build an international free trade port in Hainan, mainly considering three levels of policy, location and industry:
Policy level: Hainan is both a special economic zone and a pioneering zone for reform and opening up. Hainan is China's largest special economic zone. President Xi Jinping emphasized on the opening ceremony of the Boao Forum on April 10 that "Hainan development is an important historical witness of China's 40 years of reform and opening up" and fully affirmed Hainan's special status in China's reform and opening up. And important achievements.
Location level: Hainan's ecological environment has obvious advantages and is located at the strategic point of “One Belt and One Road”. On the one hand, Hainan is located in the tropics and has geographical advantages such as coastal areas, border areas and islands. The main ecological environment indicators are leading nationally and have abundant natural resources. On the other hand, Hainan is located in the center of East Asia and Southeast Asia, close to the main international shipping channel. It is the strategic fulcrum of the "21st Century Maritime Silk Road".
Industrial level: a pillar-based industry featuring tourism, promoting all-round opening. At present, the tertiary industry has become the leading industry in Hainan, with the highest contribution rate of tourism. According to the statistics of Hainan Provincial Statistics Bureau, Hainan Province achieved a total tourism revenue of 81.199 billion yuan in 2017, a year-on-year increase of 20.8%, accounting for 18.20% of GDP. The proportion of the tertiary industry is as high as 32.66%. With the further liberalization of the duty-free shopping policy for outlying island passengers, Hainan will promote the rapid development of a series of “tourism+” derivatives industries such as horse racing, sports lottery, agriculture, culture and entertainment.
3) Which industrial chains are the first to benefit from the initial exploration of the Free Trade Port?
The Hainan Provincial People's Government's "Hainan Provincial Master Plan (2015-2030)" has proposed 12 key industries (including tourism, tropical high-efficiency agriculture, Internet industry, medical and health industry, modern financial services industry, convention and exhibition industry, modern logistics industry). , oil and gas industry, pharmaceutical industry, low-carbon manufacturing, real estate industry, high-tech and education, culture and sports industry), according to the press conference of Hainan Economic Operation on January 23, 2017, the added value of these 12 key industries increased. 10.1%, faster than GDP growth rate of 3.1%, investment growth of 10.5%, higher than the overall investment growth rate of 0.4%. With the construction of Hainan Free Trade Zone and the Free Trade Port, we combine the key industrial planning of Hainan and the development orientation of the Free Trade Port, and put forward the key benefit industry chain of “Priority of Infrastructure, ‘Tourism+’, and Environmental Protection”.
Infrastructure priority, focusing on the transportation sector of “sea, land and air” (ports, highways, aviation). Judging from the completion of fixed assets investment in Hainan Province, the accumulated annual growth rate of 10.1% in 17 years is at a historical low level, and Hainan's infrastructure construction investment has a large room for improvement. According to Hainan Provincial People's Government's "Hainan Provincial Master Plan (2015-2030)", the goal is to promote the integration of "sea, land and air three-dimensional transportation system": 1) In terms of ports, Hainan has initially established a "four-party five-port" pattern, port construction To be further improved; 2) In terms of highways, Hainan has a total of 803 kilometers of expressways, far below the inland level, and the traffic convenience needs to be improved. 3) In aviation, Hainan currently operates two airports, Phoenix Airport and Meilan Airport. The main form of travel and materials to Hainan.
“Tourism+” is the focus of the “tourism+” derivative industry chain focusing on special tourism and cultural sports (horse racing, gaming, games), agriculture, and medical care. The International Tourism Island is a label of Hainan. According to the plan, an international tourist island will be basically built in 2020. Tax exemption policy relaxes Hainan's characteristic tourism industry: Since the implementation of the duty-free shopping policy for outlying island passengers in 11 years, according to the Ministry of Commerce, by the end of 2017, the accumulated sales of two offshore duty-free shops in Hainan have exceeded 30 billion yuan, of which 17 years of sales were 8.02 billion. Yuan, a year-on-year increase of 32%. With the promotion of the free trade zone and the construction of the free trade port, the tax exemption policy for the outlying islands will be further liberalized. The tourism industry will drive a series of “tourism +” including agriculture, medical health, exhibition, culture and sports, finance and insurance, forestry, internet and industry. The derivative industry is accelerating.
The ring protects the air and focuses on the ecological construction of the garden. According to Xinhuanet, on April 13, President Xi Jinping proposed in the 30th anniversary of the establishment of the provincial special economic zone in Hainan, the Party Central Committee decided to support Hainan to build a national ecological civilization pilot zone and explore the experience of national ecological civilization construction. A good ecological environment is an important guarantee for Hainan to achieve all-round opening to the world. According to Hainan Daily, on March 26, Hainan Province issued the “Special Action Plan for Deepening Ecological Environment in Hainan Province (2018-2020)” (Request for Comments) Draft), once again proposed to do a good job in ecological civilization construction and six special rectification, focusing on forestry, wetland restoration and other aspects.
|Fund code||Fund abbreviation||Nearly one month's earnings||Handling fee||operating|
|501008||Huitianfu CSI Internet Medical Index C||7.33%||0.00% 0.00%||buy Account opening|
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|000061||Huaxia Shengshi Mix||0.62%||1.50% 0.15%||buy Account opening|