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One Question to the End丨Is the upgraded duty-free policy for outlying islands more cost-effective for shopping in Hainan? #BTC
On December 18th, the Hainan Free Trade Port will officially start the full island closure. Many friends are concerned about whether the closure will affect shopping in Hainan. Here, we can inform everyone that the full closure of the Hainan Free Trade Port is not directly related to the 'duty-free' policy for outlying islands. In fact, the latest adjustment of the 'duty-free' policy for outlying islands was officially implemented over a month ago, on November 1st of this year. What changes have been made to the adjusted 'duty-free' policy? Will shopping in Hainan now be more cost-effective? Let's get to the bottom of it. First, let's take a look at what upgrades the adjusted 'duty-free' policy has specifically made for residents on the island.
Currently, there is no specific timeline arrangement for the new duty-free policy related to the full island closure. As for concerns about whether the prices of duty-free goods will rise after the closure, there is currently no clear correlation. However, after the closure, duty-free shopping will be deeply integrated with tourism, culture, entertainment, and other industries, which will promote more forms of consumption and provide more job opportunities in Hainan; moreover, after the full island closure, more investors and companies will be attracted to settle in Hainan, creating a strong demand for the service industry, and the overall economic scale of Hainan will gradually expand, benefiting every ordinary person.
Behind the better-than-expected U.S. non-farm payrolls in November: the resilience and hidden worries of the labor market
Behind the better-than-expected U.S. non-farm payrolls in November: the resilience and hidden worries of the labor market On December 16 local time, the U.S. Labor Department released the non-farm data for November, which attracted widespread attention from the market. The new employment of 64,000 far exceeded the market expectation of 50,000, seemingly demonstrating the resilience of the labor market, but it conceals multiple structural contradictions. This data broke the market's previous concerns about a rapid cooling of employment and added new uncertainties to the direction of Federal Reserve policy. From the data details, the better-than-expected non-farm payrolls in November have a special background. In October, the new employment significantly decreased by 105,000, mainly due to the expiration of the government department's DOGE buyout plan and a one-time impact from the concentrated resignation of federal employees. However, in November, private sector new employment rebounded to 69,000, with the healthcare industry contributing 64,000 new positions. The construction industry also helped turn around employment in the goods sector from negative to positive, becoming a major supporting force. However, it is worth noting that the data for August and September was revised down by a total of 33,000, and the three-month moving average still shows a downward trend, indicating doubts about the sustainability of employment growth.