New tax-free policy sales figures for Hainan’s outlying islands for previous two years
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New tax-free policy sales figures for Hainan’s outlying islands for previous two yearsHainan’s outlying islands’ new tax-free policy has achieved sales of 90.6 billion yuan in two years.
2022-07-04According to statistics from Haikou Customs, from July 1, 2020, when the new duty-free policy for outlying islands in Hainan was implemented to the end of June this year, over the past two years, customs supervised the outlying islands with tax-free shopping of 90.6 billion yuan, sales of 125 million items, and 12.28 million shopping tourists.
The average daily shopping amount was 124 million yuan, an increase of 257% compared with that before the implementation of the New Deal.
The tax exemption on outlying islands not only brings benefits to tourists, but also promotes the transformation of Hainan’s economy, stimulates consumption potential, and becomes an important engine for Hainan’s economic development.
On June 1, 2020, the Central Committee of the Communist Party of China and the State Council issued the “Overall Plan for the Construction of Hainan Free Trade Port”, proposing to “relax the duty-free shopping quota for outlying islands to 100,000 yuan per person per year, and expand the types of duty-free commodities”.
On July 1, the new policy for duty-free shopping on outlying islands in Hainan was implemented: the annual duty-free shopping quota for the outlying islands is 100,000 yuan per person; the 8,000-yuan tax-free limit for a single item of goods has been cancelled; the maximum tax-free limit for a single item is 100,000 yuan; The number of items has been increased to 45.
In February 2021, the General Administration of Customs issued the “Announcement on the Release of Supervision Requirements for Duty-Free Shopping on Hainan Outlying Islands, Delivery by Mail and Pickup on Return to the Island”, which clarified that outlying island travellers can choose to pick up duty-free items by “delivery by mail”.
Residents who buy duty-free items before leaving the island can choose to “return to the island to pick up”. The policy covers the three modes of ferry, train and plane. It is more convenient for passengers to purchase and pick up goods, and the industrial layout is more balanced, which continues to promote the rise of the duty-free shopping market in the outlying islands.
At present, there are 5 duty-free business entities on the outlying islands of Hainan, and the number of duty-free shops in the outlying islands has increased to 10.
The market entities are becoming more diverse, and the pattern of orderly competition in the outlying island duty-free market is gradually taking shape.
The main products of the duty-free stores in the outlying islands include fragrance products, jewellery, watches, bags, clothing, electronic products, etc., to better meet the needs of consumers.
Currently a series of promotional activities and the arrival of the summer vacation is driving the duty-free sales of Hainan’s outlying islands with peak passenger flow.
According to the Secretary of the Party Committee of China Duty Free Group Sanya Duty Free Shop Co., Ltd., Executive Director Gao Xujiang, “Hainan duty-free commodities are competitively priced, and you can buy your favourite products without going abroad. This is the main reason why Hainan duty-free shops continue to be popular and attract domestic consumers.”
Gao Xujiang continued that “Haikou Customs has upgraded and improved the customs supervision system of duty-free goods for passengers from outlying islands in Hainan by continuously improving the system, optimizing the supervision process, adjusting the supervisory organization and personnel allocation, and realizing the full chain supervision of the import, entry and exit, sales, and delivery of goods to outlying islands of duty-free goods.”
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