Sanya Duty-free Store will be relocated to the Haitang Bay International Shopping Center, and is expected to be the largest duty-free shop in the world, with its current area to be expanded from 10,000 sqm to 60,000 sqm, according to the statement made by Hainan vice-governor during the 2014 Boao Forum for Asia.

Besides, Hainan also plans to enlarge another duty-free store in Haikou from 3,650 sqm to 4,880 sqm.

In 2013, Hainan’s two duty-free stores received 1.1 million yuan, with its duty-free sales hitting 3.29 billion yuan, up 40% year on year.

State Council, China’s cabinet, gave Hainan permission to run a duty-free program on a trial basis in April 2011 to promote the province as an international tourist destination.

The launch of an offshore duty-free zone in Hainan on April 20, 2011 has proved an effective impetus for boosting the island’s visitor numbers and economic development.

Statistics show that Hainan’s GDP exceeded 300 billion yuan (in 2013, and the GDP per capita increased from 1,080 yuan in 2011 to 1,065 yuan in 2013.

 
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SOURCE: WOS Team
 
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