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Hainan's duty-free sector to keep growing after China restores outbound tourism — experts

In its report, KPMG linked this to the competent promotion of tourism, business and investment by the Hainan Provincial Bureau of International Economic Development and other structures

HAIKOU /China/, July 29. /TASS/. The duty-free sector in the southern Chinese province of Hainan will develop even after the full recovery of China's outbound tourism. This is stated in the company's report received by TASS, which was presented at the 2nd China International Consumer Products Expo.

" A key question and one asked constantly by analysts is when will Chinese nationals be able to travel freely again to international destinations, and what will happen to Hainan when they do. The short answer is that whatever happens to outbound travel, Hainan’s offshore duty free sector is here to stay," the document states. As it points out, this is due, among other things, to the competent promotion of tourism, business and investment by the Hainan Provincial Bureau of International Economic Development and other structures.

"We expect further preferential and supportive policies to boost the island’s duty-free industry. Importantly, too, heavy investment in tourism infrastructure on the island is happening at pace. Far-sighted retailers’ realization that duty free cannot exist in isolation will ensure that offshore duty free continues to flourish," the document states.

Amid the pandemic, Hainan Island has become a top travel destination for Chinese residents. Earlier, Chinese authorities urged residents not to travel outside the country "unnecessarily."

The 2nd China International Consumer Products Expo will be held from July 25 to 30 and will feature over 2,800 brands from more than 60 countries and regions around the world. Over 600 kinds of products will be unveiled during the expo. As expected, the exhibition will be visited by more than 40 thousand businessmen. France is the guest of honor at this year's event.

The opening ceremony marked the start of the Expo's business program. The exhibition itself started on Tuesday: from July 26 to 28 the exhibition will be open only for the business community and mass media, and on July 29-30 it will open its doors for the general public.

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