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Sales at Hainan's duty free stores reach $ 15 billion in 10 years

In 2020, Hainan received 64.55 million Chinese and foreign tourists

On April 19, tourists make purchases in Boao duty-free center Xinhua News Agency

On April 19, tourists make purchases in Boao duty-free center

© Xinhua News Agency

HAIKOU, April 19. /TASS/. China's Hainan has sold tax-free goods worth about 980 billion yuan (about $ 15 billion) over the past 10 years, Xinhua announced on Monday citing the regional department of commerce.

On April 20, 2011, the Chinese authorities launched a pilot duty free program on Hainan, since that time the province has sold more than 120 million duty free goods, and over 25 million visitors have visited the respective stores. Over ten years, the program has seen a number of changes aimed at boosting trade, in particular, the range of goods has been expanded and a number of restrictions on purchases have been removed.

At the end of 2020, sales in Hainan's duty free network amounted to 32.74 billion yuan (about $ 5.07 billion), which is 127% higher in annual terms. The pandemic led to a slight drop in sales in the first half of 2020, but in the second half of the year there was a rapid increase amid the improvement in the epidemiological situation in the country and the influx of Chinese tourists to the province.

Since July 1, 2020, Hainan increased personal duty free shopping quota from 30,000 to 100,000 yuan. In addition, the Chinese authorities removed the restriction on the maximum price per unit of goods, which was previously 8,000 yuan, and expanded the list of categories of consumer goods sold without duty from 38 to 45. The list includes alcohol, natural honey, tea, tablets, etc. minicomputers, smartphones, game consoles, as well as other electronic gadgets and accessories.

Currently, there are ten duty free stores on the island, located in Haikou, Sanya and Boao.

By 2025, the Chinese authorities have set the task of transforming Hainan into an "international center for tourism and consumption." The Chinese island is often referred to as the "Eastern Hawaii": natural landscapes, tropical forests, a developed hotel chain, combined with beaches and a coastline stretching along more than 1,900 kilometers, attract guests from the most remote parts of the world. In 2020, Hainan received 64.55 million Chinese and foreign tourists.

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