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China’s resort island Hainan reports surging duty-free sales

Abstract : China's southern island province of Hainan recorded a surge in spending at duty-free shops since the implementation of a new duty-free policy in July, official data showed.

BEIJING, Dec. 19 (Xinhua) — China’s southern island province of Hainan recorded a surge in spending at duty-free shops since the implementation of a new duty-free policy in July, official data showed.

The resort island recorded 15.9 billion yuan (about 2.43 billion U.S. dollars) of duty-free spending by visitors from July 1 to Nov. 30, a surge of 204 percent year on year, according to information from the National Development and Reform Commission.

During the period, about 2.96 million tourists visited the island, up 79 percent year on year.

Starting from July 1, Hainan increased its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person.

The range of duty-free goods was expanded from 38 categories to 45, with some electronic products and wines newly added to the duty-free list.

China released a master plan in early June on building Hainan into a globally influential free-trade port. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s resort island Hainan reports surging duty-free sales

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