Offshore duty-free sales in China's Hainan top 28 bln USD over 12 yrs

HAIKOU, Oct. 18 (Xinhua) -- Since introducing relevant policies 12 years ago, south China's island province of Hainan has recorded total offshore duty-free sales of 202.4 billion yuan (about 28.19 billion U.S. dollars), according to local authorities.

As of Monday, 37.22 million shoppers had purchased 268 million duty-free products on the island, according to the customs of Haikou, the provincial capital of Hainan.

Hainan launched the policy that allows domestic tourists to buy products on the island without taxation on April 20, 2011, and since then rounds of adjustments to the initial policy have been implemented.

The adjustment from July 1, 2020 increased the island's annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person, and expanded the major categories of duty-free goods from 38 to 45.

China released a master plan in June 2020 to build Hainan into a globally influential and high-level free-trade port by the middle of the century. Over recent years, the island province has become an attractive shopping destination for domestic consumers.

Following years of efforts to enhance the local tourism and shopping sector, Hainan now boasts 12 offshore duty-free shops.