First duty-free stores for Hainan residents to open from February 11
The move is part of a zero-tariff import policy on certain goods for Hainan Free Trade Port residents
HAIKOU, February 10. /TASS/. The first duty-free stores offering everyday consumer goods for residents of China’s southern province of Hainan will begin opening from February 11, Xinhua reported, citing local authorities.
The move is part of a zero-tariff import policy on certain goods for Hainan Free Trade Port residents, which took effect on February 5. According to the plan, the opening of the retail outlets will start in three key cities on the island: Haikou, Sanya, and Danzhou. Taking into account population assessments, consumer demand patterns and infrastructure development, five stores will open initially: three in Haikou and one each in Sanya and Danzhou.
The right to make purchases at the new duty-free stores will be granted to Chinese citizens registered or permanently residing in Hainan, as well as foreign specialists working on the island who hold residence permits. An annual quota of 10,000 yuan (around $1,437) has been set for them, with no limit on the number of visits. The range of goods will include food products, beverages, household goods and cleaning products, as well as products for mothers and children.
Authorities view the project as an important step in building the Hainan Free Trade Port, allowing residents of the province to directly benefit from the island’s greater economic openness. Hainan, known as a popular tourist destination, has been actively developing a special economic regime in recent years to boost its appeal to investors and consumers.
A network of duty-free stores for tourists is already operating in various cities across Hainan.