Hainan to enhance individual tax-free shopping quota
During this year's National Day holiday, the two shops in Sanya and Haikou received about 160,300 visitors and generated 240 million yuan in revenue, up 4.4% and 16.8% year-on-year.
The government of South China's Hainan Province will strive to increase the annual tax-free shopping quota for travelers through efforts like opening more duty-free shops, a policy that an expert said will boost consumption in the local market and help the province become a global tourism and shopping center.
An expert said local authorities are likely to enhance the quota step by step. At this point, it is set to rise to about 30,000 yuan (USD 4,329.88) per person annually compared with 16,000 yuan, according to the report.
Hainan's duty-free shopping policy was implemented on April 20, 2011. The number of duty-free products sold in two tax-free shops in Sanya and Haikou in the province reached about 48 million, worth a total of 37.59 billion yuan from April 20, 2011 to April 19, 2018, according to local customs.
During this year's week-long National Day holidays, which began on October 1, the two shops received about 160,300 visitors and generated 240 million yuan in revenue, up 4.4% and 16.8% year-on-year, respectively.
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