HAIKOU, January 15. /TASS/. Total sales of duty free shops on Hainan (including tax-free items) in 2020 grew by 127% year on year to 32.74 billion yuan (about $ 5.07 billion), announced deputy head of the Hainan Provincial Commerce Department Peng Wei.
"In 2020, the sales at Hainan's duty free shops, including tax-deductible products, totaled 32.74 billion yuan," he said.
"This figure increased in annual terms by 127%, and in the total retail sales of social consumer goods in the province, the share of duty free shops was over 16%," added a spokesman for the department. According to the official, this year the regional government plans to introduce new exemptions in the field of duty free trade, which will contribute to the growth of activity in the sector.
Since July 1, the personal quotas for shopping in duty free shops in the Hainan province were increased from 30,000 to 100,000 yuan (from $ 4,580 to $ 15,260 at the current exchange rate), as well as the list of goods was expanded from 38 to 45 positions.
There are currently four duty free shops on Hainan province: two of them are located in the provincial capital, Haikou, and the rest in Sanya and the coastal town of Boao in Qionghai District in the northeast of the island. By the end of 2020, it is planned to open three more new duty free stores, all of them will be located in Sanya. One will open at the airport and the other two — in the suburbs.
On December 30, the provincial office for commerce announced the opening of three new duty free stores. All of them are located in Sanya.