CHINA Hainan's duty-free sales surge 250% after policy upgrade

CHINA

Hainan's duty-free sales surge 250% after policy upgrade

Xinhua

07:24, August 21, 2020

Tourists visit a duty-free store in Haikou, capital of south China's Hainan Province, Aug. 18, 2020.(Photo: Xinhua) 

Sales of offshore duty-free shops in China's island province of Hainan exceeded 5 billion yuan (about 720 million U.S. dollars) from July 1 to August 18, an increase of 250 percent year on year, local authorities said Wednesday.

Data showed some 740,000 customers visited Hainan's duty-free shops during the period, up 70 percent year on year.

Chen Xi, director of the provincial department of commerce, said the newly introduced duty-free goods were welcomed by customers, with mobile phones, liquor and tablets being the best-selling products.

Total sales of single products priced above 8,000 yuan reached nearly 1.2 billion yuan, surging by 420 percent year on year. "It has played an important role in winning back consumers who bought high-end products overseas," Chen said.

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.

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