Duty-free stores in Hainan record surge in sales chinadaily.com.cn | Updated: 2021-05-11 14:06 Share CLOSE This photo taken on April 19, 2021, shows staff members helping customers at a duty-free store in Boao, Hainan province. [Photo/Xinhua]
Total sales at Hainan s offshore duty-free stores in the first quarter of 2021 reached 13.6 billion yuan ($2.1 billion), a rise of 356 percent on the COVID-hit first quarter of 2020, Hainan Governor Feng Fei told guests at the China International Consumer Products Expo opening forum on Friday, according to the Moodie Davitt Report.
Consumer activity has recovered strongly, the governor said, noting that the implementation of Hainan s Free Trade Port project has driven demand as has the introduction of the enhanced duty-free shopping policy last July.
Hainan sets to bring global benefits as free trade port
As comprehensive reforms are being deepened and high-level opening-up policies are being put in place, China’s southern island province of Hainan is transforming itself into a free trade port for the world.
China last June released a master plan to build the island into a globally influential and high-level free trade port by the middle of the century. The ongoing China International Consumer Products Expo (CICPE) is the latest testament to China’s opening-up commitment.
The CICPE, a new annual expo at the national level and the first international expo on the island, has attracted 648 companies and more than 1,300 brands from 69 countries and regions. More than 200,000 visitors from home and abroad are expected over the four-day event.
China s consumer products expo presents recovery opportunities by connecting markets
1 2021-05-10 08:23:05Xinhua
Editor : Li Yan
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In recent days, thousands of consumers and business persons in Haikou, capital of China s southernmost Hainan province, have witnessed the economic vitality at the first China International Consumer Products Expo (CICPE).
The expo running from May 7 to May 10 has attracted 648 foreign enterprises showcasing over 1,300 brands in Haikou, and is expected to be the largest consumer goods expo in the Asia-Pacific region.
Striving for post-pandemic recovery, multinational giants came to the expo to debut their new products and showcase their top-notch goods, and overseas small- and medium-sized enterprises (SMEs) also flocked here to observe the booming Chinese market.
2021-05-09 09:00:59 GMT2021-05-09 17:00:59(Beijing Time) Xinhua English
HAIKOU, May 9 (Xinhua) In recent days, thousands of consumers and business persons in Haikou, capital of China s southernmost Hainan province, have witnessed the economic vitality at the first China International Consumer Products Expo (CICPE).
The expo running from May 7 to May 10 has attracted 648 foreign enterprises showcasing over 1,300 brands in Haikou, and is expected to be the largest consumer goods expo in the Asia-Pacific region.
Striving for post-pandemic recovery, multinational giants came to the expo to debut their new products and showcase their top-notch goods, and overseas small- and medium-sized enterprises (SMEs) also flocked here to observe the booming Chinese market.
The Hainan free trade port (FTP) will likely become the world's biggest duty-free market in the near term if it continues on its current growth curve, according to a report jointly released by KPMG China and The Moodie Davitt Report.