China Focus: One year on, China's resort island prospers with duty-free consumption

Haikou, July 3 (Xinhua) - Hainan Province of South China Island has seen exponential growth in sales without taxes one year after a new one was implemented politics.

Tax-free sales on high seas, reached 46.8 billion yuan (7.2 billion US dollars) from July 1, 2020 to 30 June 2021, increasing 226 percent year after year, Haikou customs said. Saturday.

Tax-free stores in Hainan received more than 6.2 million customers, and sold more than 60 million taxes free of taxes, 102 percent and 211 percent year with year. , respectively.

Since July 1, 2020, Hainan has raised its annual share of tax-free purchases of 30,000 yuan to 100,000 yuan per person. The previous tax-free limit of 8,000 yuan for a single product has been raised, and the free purchase limit for cosmetics has also raised 12 items to 30.

Meanwhile, the categories of tax-free products have been expanded from 38 to 45, with the addition of electronic products, such as mobile phones and laptops.

As part of the basic construction policies of the Hainan Free Trade Port (FTP), the new policy-free purchases has made consumers Chinese are more willing to spend than ever before. Dividends of tax-free policy are also carried out in the last year with the opening of five tent-free stores.

Qin Lin, a South Tourist The Autonomous Region of China Guangxi Zhuang, was buying cosmetics in a t-shirt in downtown Haikou, the capital of Hainan . It was his first visit to Hainan and tax-free shopping was an important part of him itinerary.

"With the tax-free purchase share significantly, we can buy more types of things," said Qin, pointing out that with a trip abroad hindered by the Epidemic, Hainan offers consumers a suitable alternative for tax-free purchases.

Located in Haitang Bay, Sanya, a tourist complex in Hainan, Sanya International Duty Free City is the largest unique tax store in the world, with an area of ​​120,000 square meter. Home to more than 350 luxury international brands, has become a popular attraction for tourists.

Gao Xujiang, Deputy General Manager of the Free District Group (CDF), which operates the store in Sanya, said despite the epidemic in 2020, The store has become the unique commercial complex in sales without taxes in China and the world. The CDF has also become the largest tax retailer in the world, according to Gao.

Haikou International Duty Free City, a world-class tourism and a shopping complex. It is expected to open the CDF built by the CDF, in June of next year.

As favorable policies adjusted continue to draw more consumers, the tax-free sales of the island are likely to exceed 60 billion yuan in 2021, Quadruplicated from 2019, Shen Xiaoming said, head of Hainan's departure, at a press conference in April.

A report launched jointly in May by KPMG China and the Moodie Davitt report, said the improved purchase policy in July 2020 gave a tremendous impetus to brands in The channel, since other tax-free markets fell into a deep depression of the pandemic.

The report predicted that Hainan's free trade port will probably become the largest tax-free market in the next term if it continues is in its curve of current growth.

China launched a master plan last June to build the island province at a high-level free trade port and influential globally. The century.

The plan also addressed that Hainan strives to become an international tourism and consumer destinations.

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