China's resort island posts surging duty-free sales during Spring Festival
Ten offshore duty-free shops in south China's island province of Hainan reported a total turnover of 2.13 billion yuan (about 335 million U.S. dollars) during the Spring Festival holiday, a year-on-year increase of 151 percent, according to the provincial department of commerce.
According to the department, duty-free sales of the shops reached 1.94 billion yuan from Jan. 31 to Feb. 6, up 156 percent year on year. The number of shoppers totaled more than 300,000, up 138 percent year on year.
Three more duty-free shops opened last year in Hainan, raising the total number to 10. The duty-free shops host more than 720 brands in a total shopping area of 220,000 square meters.
Since July 1, 2020, Hainan has raised its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person. The duty-free purchase limit for cosmetics has been raised from 12 items to 30 items.
China released a master plan in June 2020 to build the island province into a globally influential and high-level free trade port by the middle of the century. Amid the COVID-19 pandemic, Hainan has grown into an attractive shopping destination for domestic consumers.
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