BUSINESS Hainan duty-free policy upgrade triggers shopping enthusiasm

BUSINESS

Hainan duty-free policy upgrade triggers shopping enthusiasm

ehainan.gov.cn

11:47, August 04, 2020

Tourists shop at a duty-free mall in Hainan. (Photo: Hainan Daily)

China's island province of Hainan recorded 2.22 billion yuan ($317 million) in duty-free shopping by tourists from July 1 to 27, an increase 234.19 percent year-on-year, according to the General Administration of Customs.

About 281,000 tourists visited the island during the 27-day period, up 42.71 percent year-on-year.

Hainan's new off-shore tax-free shopping policy has not only stimulated the shopping enthusiasm of tourists, but has also greatly increased the average transaction value (ATV) per customer. In 2019, the ATV in Hainan was 3,544 yuan, which has risen to 7,896 yuan since July.

On July 30, the thematic commercial area, service area, and innovative industry aggregation area of the Haikou International Duty Free City project began construction. Located on the west coast of Haikou, the project has a total investment of approximately 12.86 billion yuan.

Hainan's new tax-free shopping policy requires consumers to pick up their goods at the designated areas of airports, railway stations, and ports that they are leaving the province from. At Sanya Phoenix International Airport, the number of pick-up windows has increased from the original 18 to 38, which offer services like article pick-up, rebates, and pick-up method adjustments due to flight changes.

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