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Media: Consumption in the capital of China's Hainan growing rapidly

The Haikou government is working hard to turn Hainan into an international advanced consumption zone

HAIKOU, October 10. /TASS/. Haikou's consumer sector in Haikou (the capital of Hainan) is booming and the city is becoming an increasingly popular shopping destination in China, reported the Haikou Daily.

According to the newspaper, department stores, shopping centers, duty free shops, restaurants, hotels, as well as numerous entertainment and cultural facilities are actively recovering from the pandemic and are rapidly increasing the scale of commercial activity. Thus, according to preliminary estimates, for seven days of the weekend on the occasion of the Founding Day of the People's Republic of China (October 1-7), the income of 50 largest catering organizations in Haikou exceeded 45 million yuan (almost $ 7 million at the current exchange rate). This is 12.6% higher than in the same period in 2020. 

Moreover, according to Meituan, one of the leading commercial sites in China in the field of online services, over the past week, the business activity of restaurants and stores in the administrative center of Hainan has already exceeded the level recorded before the start of the global coronavirus epidemic by 17% and 35%, respectively.

The absence of duties has become an important incentive for the development of local trade, which attracts many tourists from other regions of China, including the neighboring province of Guangdong. According to the newspaper, in Haikou one can buy expensive perfumes, smartphones and other products with significant discounts of up to 30%. Numerous trading promotions are accompanied by all kinds of cultural events, performances by famous Chinese stars and musical bands.

The Haikou government is working hard to set up an international advanced consumption zone in the city. In order to do so, the authorities are constantly promoting the creation of a modern infrastructure in the city, taking measures to form a top-notch economic cluster with the participation of the largest companies in the world. In addition, the administrative center of Hainan leads the national ranking of green cities, actively introducing alternative energy sources and the latest technologies. All this contributes to an increase in the flow of tourists, boosting the development of a regional free trade port.