New duty-free store planned in capital of Hainan Island
Haikou is planning to open a new duty-free shop in the city center, marking the full implementation of the region’s new policy for duty exemptions, according to local authorities.
Under the policy, which comes into effect this November, the tax-free shopping limit will be increased from 5,000 yuan to 8,000 yuan, which will bolster the remarkable duty free business on the island.
To meet the higher forecasted market demand based on the new policy, the shop has made preparations in advance and the Haikou Duty-free Store started a trial run at Haikou Meilan International Airport.
Extra product items are also added into the duty-free categories including the largest Asian watch zone set up at the airport, bringing greater convenience to tourists.
As of October 14th this year, 4.14 million items have been sold duty-free in the Sanya and Haikou shops with a total value of 2.71 billion yuan, according to local customs statistics.