Hainan's island-wide special customs effect keeps driving capital market rally on Tuesday

The island-wide special customs operations implemented in South China's Hainan Province has kept on energizing both consumer and capital markets, with multiple Hainan FTP (free trade port) concept shares extending strong gains on Tuesday.

As of Tuesday's stock market close, five Hainan FTP-related stocks—including Hainan Development Holding Co and Ruize Co—hit the daily limit-up, while another two shares rose more than 9 percent.

And, actively traded stocks related with Hainan all performed well on Tuesday, including transportation, tourism and technology sectors..

Wind data showed that by the close on December 22, the Hainan FTP Index soared by 9.28 percent, leading all thematic sectors. During the previous trading day, the index rose by 6.53 percent, The Paper reported on Tuesday.

The momentum also spilled over into the broad consumer market. On Sunday, tropical coastal city Sanya 's duty-free sales reached 102 million yuan, up 37.3 percent year-on-year, according to data provided by the city's commerce authorities on their official WeChat account on Monday. It marked the fourth consecutive day of sales surpassing 100 million yuan.

On December 18, the first day of the special customs operations, Sanya's duty-free sales totaled 118 million yuan. On December 19, duty-free stores posted 105 million yuan in sales, up 45.8 percent year-on-year; and on December 20, the sales reached 108 million yuan, up 47 percent, Hainan Daily Press Group reported on Monday. Year-to-date duty-free sales in Sanya have already exceeded 20 billion yuan, the report said.

A sales manager at CDFG's Sanya downtown duty-free stores said that on the first day of the island-wide customs launch, footfall at Sanya International Duty-Free Shopping Complex exceeded 36,000—more than 60 percent higher year-on-year, according to the report.

Meanwhile, sales rose 85 percent year-on-year, offering a clear indication of the strong boost the special customs launch has delivered to consumer spending there.