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Hainan cashes in on expanded duty-free policy (2)

(China Daily)

11:14, November 02, 2012

Wang said the province expects annual sales of duty-free goods to reach 4 billion to 5 billion yuan after the new policy, 80 to 90 percent more than in the past.

Hainan's annual tourism revenue growth is expected to rise by 6 to 7 percentage points, benefiting retailing and logistics businesses, Wang was quoted as saying.

To achieve this goal, Wang said efforts have to be made to improve fiscal policies, supporting facilities and service standards on the island.

A resident who gave his name as Tong said he expects the maximum purchase limit could go even higher.

"I'm an amateur photographer, and I hope duty-free items will expand to consumer electronics, like cameras and PCs," he said.

Zhang Guangrui, director of the Chinese Academy of Social Sciences' Tourism Research Center, said the policy fine-tuning would give a better deal to domestic tourists who have less chance to go abroad but are eager to purchase luxury brands.

"The pilot measures could set off a chain reaction, with other provinces establishing more duty-free stores at tourist destinations," Zhang said.

But he suggests that more Chinese brands should take advantage of the expansion of duty-free shops.

"So far, 80 percent of the commodities sold, especially luxury goods, are foreign brands, which shows customers' loyalty to import items," Zhang said.

"In South Korea, for example, this type of shop tends to serve as the display window for local, specialty products such as cosmetics."

Zhang also said the policy will have more incentives for domestic customers from second- and third-tier cities.

"International tourists and tourists from metropolises like Beijing and Shanghai have more options and can more easily buy luxury goods. But tourists from smaller cities have shown stronger purchasing power on the island."

Liu Xiaoli in Haikou contributed to this story.

【1】 【2】


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