All preparations for the island-wide special customs operations of the Hainan Free Trade Port have now been fully completed. The commencement of these operations on December 18th represents a pivotal institutional milestone in Hainan's development into a globally significant free trade port, underscoring China's steadfast commitment to advancing high-standard opening-up. Xia Le, Chief Economist for Asia at BBVA Research, offered his expert commentary on Hainan's strategic transformation and the implications of this critical policy move.