Offshore duty-free sales in China's Hainan top 15 bln USD over 10 yrs
Source: Xinhua | 2021-04-20
China's southern island province of Hainan has raked in approximately 98 billion yuan (about 15 billion U.S. dollars) in offshore duty-free sales over the past decade, according to local authorities.
Duty-free shops in Hainan 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, according to data from the Hainan provincial department of commerce.
The department said that Hainan's offshore duty-free policy has continued to improve over the years, with eased restrictions and more convenience for customers.
On July 1, 2020, the province 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.
Busiunion
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