CHINA’S HAINAN PROVINCE SAW RISE IN OFFSHORE DUTY-FREE SALES

Highlights –

  • China’s Hainan province saw rise in offshore duty-free sales.
  • Hainan province has raked in approximately about 15 billion U.S. dollars in offshore duty-free sales.
  • The province increased the annual per capita tax-free shopping limit to 100,000 yuan.
  • Hainan’s duty-free shops received more than 25 million customers.

China’s southern island province of Hainan and its provincial department of commerce reported that the province recieved in approximately 98 billion yuan (about 15 billion U.S. dollars) in offshore duty-free sales over the past decade.

According to Hainan’s local authorities, duty-free shops in the province received more than 25 million customers and sold over 120 million duty-free goods since the province was greenlighted to run a pilot offshore duty-free program by the State Council on April 20, 2011.

The department further mentioned that Hainan’s offshore duty-free policy has continued to improve over the years, with eased restrictions and more convenience for customers.

The province, on July 1, 2020, increased the annual per capita tax-free shopping limit from 30,000 yuan to 100,000 yuan.

The categories of duty-free goods have also been expanded from 38 to 45, with electronic products such as mobile phones and laptops added to the duty-free list.

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