Resort island upgrades duty-free policy for int'l tourism, consumption

Since the implementation of duty-free shopping policy in April 2011, the duty-free shops in Hainan have raked in 55.07 billion yuan by the end of March this year, with the number of duty-free items sold hitting 72 million, according to the customs of Haikou.

The policy adjustment will greatly improve consumers' shopping experience, release policy dividends and enhance confidence in the development of the Hainan Free Trade Port (FTP), said an official with the Ministry of Finance.

China released a master plan on June 1 for the Hainan FTP, aiming to build the island province into a globally influential high-level free trade port by the middle of the century.

Four offshore duty-free shops are currently in operation in Hainan, with two in Haikou, one in Qionghai and one in Sanya. The duty-free shop in Sanya is the largest one, covering about 120,000 square meters.

Gao Xujiang, executive director and general manager of Sanya Downtown Duty Free Store Co., Ltd affiliated to the China Duty Free Group, said the new duty-free policy would trigger rapid growth of the number of customers and operating revenue, bolstering tourism consumption and promoting construction of the Hainan FTP.

"The new policy will enhance the quality of Hainan tourism, and promote the construction of Hainan to make it an international tourism and consumption destination," said Liu Feng, director of the Research Center for Free Trade Port with Chinese Characteristics of Hainan Normal University.