The Chinese Ministry of Finance has adopted new regulation increasing the limit for duty-free shopping at the island province of Hainan.
 
Current regulations entitle non-Hainan residents to an exemption of Rmb5,000 ($800) per purchase twice a year in Hainan’s duty-free stores and once a year for Hainan residents, but the exemption will be increased to Rmb8,000 ($1,282) per purchase from November 1.
 
The tax-free shopping adjustment also regulates the minimum age threshold for applicable visitors to 16 years, adds three new product categories to the list of tax-free goods (beauty and healthcare equipment; tableware and kitchen equipment; and toys) for a total of 21 categories from November.
 
Travel retailer China Duty Free Group began operating in the city of Sanya, located on Hainan Island, in January 2010. Further developments on the Chinese island province at the end of last year saw the establishment of Hainan Duty Free Goods (HNDF), a subsidiary of the province’s state-owned company Hainan International Tourism Island Development & Construction, which is allowed to import duty-free goods and operate duty-free shops in Hainan province under a joint venture with HNA Group. This led to the opening of a new tax-free shop at Haikou Meilan airport operated by HNDF.
 
Total sales at the CDFG Sanya store in the year April 20 2011 to April 20 2012 reached $4.64bn, according to the company.
 
 
SOURCE: dfnionline.com
 
 
Editorial Message 
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only. 
whatsonsanya.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact editor@whatsonsanya.com