Hainan duty-free policy easing set to boost tourism
The updated scheme will take effect from December 1, the ministry said.
The duty-free policy in China's southernmost province of Hainan will be further eased from December, to boost tourism and domestic consumption as the island targets to be a free-trade port.
Domestic and overseas tourists, as well as island residents can make duty-free purchases if they spend no more than 30,000 yuan (USD 4,315) per person within one year, up from the current limit of 16,000 yuan, the Ministry of Finance said in a statement on its website. There will be no restrictions on purchase frequency.
Some medical apparatus and instruments will be included on the duty-free product list, including hearing aids, visual training machines, and household respiratory support equipment. Every consumer can buy a maximum of two of these items each time, according to the statement.
Further easing the tax policy in Hainan is expected to spur domestic tourism and boost consumption of overseas goods and luxury items, said Wang Huiping, deputy director of the Hainan provincial finance department.
The updated scheme will take effect from December 1, the ministry said. This will be the fifth adjustment of the island province's duty-free policy since the authorities started a pilot tax refund program in Hainan on January 1, 2011.
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