BUSINESS Hainan reports surge in duty-free shopping after policy upgrade

BUSINESS

Hainan reports surge in duty-free shopping after policy upgrade

Xinhua

19:02, July 30, 2020

Tourists buy handbags at a duty-free shop in Haikou, Hainan province. (Photo: China News Service)

BEIJING, July 30 (Xinhua) -- China's island province of Hainan has recorded 2.22 billion yuan (about 317.45 million U.S. dollars) in duty-free shopping by tourists from July 1 to 27, up 234.19 percent from the same period last year, the General Administration of Customs said Thursday.

During the period, about 281,000 tourists visited the island, up 42.71 percent year on year.

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

The range of duty-free goods has also expanded, growing from 38 categories to 45, while the previous tax-free limit of 8,000 yuan for a single product has been lifted.

China released a master plan in early June on building the southern island province into a globally influential free trade port. 

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