BUSINESS Hainan posts surging duty-free sales

BUSINESS

Hainan posts surging duty-free sales

Xinhua

09:06, October 28, 2020

Customers visit a duty-free shop in Haikou, south China's Hainan Province, Oct. 4, 2020. (Photo: Xinhua)

Sales of offshore duty-free shops in China's island province of Hainan reached 10.85 billion yuan (about 1.63 billion U.S. dollars) from July 1 to Oct. 19, an increase of 218.2 percent year on year, customs data showed.

Data from Haikou Customs showed that Hainan's offshore duty-free shops received some 1.44 million customers and sold 11.6 million duty-free products during the period, up 58.5 percent and 142 percent year on year, respectively.

Starting on 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 has also expanded from 38 categories to 45, while the previous tax-free limit of 8,000 yuan for a single product has been lifted.

According to the provincial bureau of statistics, the total retail sales of consumer goods in Hainan have achieved year-on-year growth for five consecutive months since May, driven by the rapid growth of duty-free product sales.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue