This paper， using Difference-in-Differences and synthetic control models， evaluates the impact of the Hainan Free Trade Port policies on the regional economy from six aspects： overall economic effects， domestic trade， foreign trade， fiscal revenue， financing scale， and fixed asset investment. By introducing a “counterfactual” perspective into the economic benefit evaluation， this study reflects on the construction outcomes and explores in depth the overall implementation effect and specific transmission paths of the Hainan Free Trade Port policies. The research results show the following findings： 1） The overall economic benefits of the Hainan Free Trade Port （FTP） policies have shown excellent performance， demonstrating a significant driving effect on the regional economy. Moreover， the longer the policies are implemented， the more obvious the positive effects become； 2） policies to boost consumption have fully activated Hainan’s domestic trade demand， effectively promoting the growth of internal demand； 3） policies to open up trade have significantly enhanced Hainan’s foreign trade level， attracting a large number of foreign-funded enterprises and driving the development of cross-border trade； 4） tax incentives have effectively increased fiscal revenue and directly propelled regional economic prosperity； 5） financial innovation policies have further expanded financing scale in Hainan， facilitating capital accumulation in the region； 6） infrastructure policies have strongly driven the upgrade of fixed asset investment in Hainan， successfully attracting substantial inflows of foreign and private capital， driving sustained regional economic development. Therefore， to fully leverage the impact of policies on regional economies and further enhance their economic benefits， it is necessary to optimize consumption promotion policies， strengthen tax-free consumption levels， and activate the multiplier effect of consumption； optimize international logistics and processing industry policies， build an integrated system for international logistics and value-added processing， and upgrade Hainan’s global trade hub functions； optimize fiscal support policies， improve the tax and financial incentive system， and foster sustainable growth poles of tax source； optimize financial policies， deepen pilot financial openness， expand cross-border investment and financing facilitation scenarios， and construct an innovative offshore RMB ecosystem； optimize infrastructure construction policies， accelerate the layout of new infrastructure， and promote investments in high-tech industries and green energy sectors.