Construction of Hainan FTP gives impetus to duty-free shopping Xinhua | Updated: 2021-07-06 09:21 Share CLOSE A woman browses products at a duty-free store in Haikou, Hainan province, on June 18. WANG CHENGLONG/FOR CHINA DAILY
HAIKOU－South China s island province of Hainan has seen exponential growth in duty-free sales in the year after a new policy was implemented.
Hainan s offshore duty-free sales hit 46.8 billion yuan ($7.2 billion) in the period from July 1, 2020 to June 30, soaring 226 percent year-on-year, provincial Customs said in Hainan s capital Haikou on Saturday.
Duty-free shops in Hainan sold over 60 million duty-free items to more than 6.2 million customers during the period, up 211 percent and 102 percent year-on-year, respectively.
Source: China State Council Information Office
Southern Chinaâs island province of Hainan has seen exponential growth in duty-free sales a year after a new policy was implemented.
Hainanâs offshore duty-free sales hit 46.8 billion yuan (about US$7.2 billion) from July 1, 2020 to June 30, 2021, surging 226% year on year, the Haikou Customs said on Saturday.
Duty-free shops in Hainan received more than 6.2 million customers, and sold over 60 million duty-free items, up 102% and 211% year on year, respectively.
Since July 1, 2020, Hainan has raised its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person. The previous tax-free limit of 8,000 yuan for a single product has been lifted, and the duty-free purchase limit for cosmetics has also been raised from 12 items to 30.
1 2021-07-04 08:45:34Xinhua
Editor : Zhang Mingxin
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South China s island province of Hainan has seen exponential growth in duty-free sales a year after a new policy was implemented.
Hainan s offshore duty-free sales hit 46.8 billion yuan (7.2 billion U.S. dollars) from July 1, 2020 to June 30, 2021, surging 226 percent year on year, the Haikou Customs said on Saturday.
Duty-free shops in Hainan received more than 6.2 million customers, and sold over 60 million duty-free items, up 102 percent and 211 percent year on year, respectively.
Since July 1, 2020, Hainan has raised its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person. The previous tax-free limit of 8,000 yuan for a single product has been lifted, and the duty-free purchase limit for cosmetics has also been raised from 12 items to 30.
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