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Sales at Hainan's duty free stores up by 136,9% during the 'golden week' in China

HAIKOU, October 7. /TASS/. Sales at Hainan duty free shops for five days of the "golden week", which began on October 1, amounted to 530 million yuan (about $ 78 million). This indicator, according to a report from China Central Television (CCTV), grew by 136.9% in annual terms.

Such a high growth rate of sales volume over the said period was noted against the background of an increase in personal quota for duty free purchases in the province from 30,000 to 100, 000 yuan (from $ 4,200 to $ 14,200) as well as expanding the duty free goods list from 38 to 45 positions. The Hainan authorities expect that by the end of 2020, total sales in the province's duty-free shops will reach about 30 billion yuan (about $ 4.4 billion).

In addition, with border closures and the inability to travel abroad for holidays, many Chinese who previously traveled to Hong Kong and South Korea for duty free shopping went on vacation to Hainan resorts. Mobile phones, watches and cosmetics are especially popular with shoppers on weekends.

The province's duty free policy is not only helping to turn Hainan into an international center for tourism and consumption, but is also helping to build the island's free trade port. 

There are currently four duty free shops on the island: two of them are located in the provincial capital, Haikou, and the rest — in Sanya and the coastal town of Boao. Last week, the local authorities announced three more duty free shops will open in the province by the end of 2020 in Sanya. 

Duty-free shops are part of the government's plan to promote international tourism in Hainan. By the end of this year, it is planned to open three more new duty-free shops. The authorities explained the need to increase the number of duty free shops in the province by the growing number of tourists and the high demand for duty-free goods. All three new stores will be located in the resort town of Sanya. One of them will open at the airport, and the other two — in the suburbs. 

The first days of the 10th month in China fall on weekends and are considered the "golden week". At this time, the Chinese leave big cities for their hometowns or go on a trip around the country. Traditionally, Hainan is one of the most popular travel destinations. This year's holiday week coincided with the lunar Mid-Autumn Festival (Zhongqiujie). This time it falls on October 1. Having no opportunity of traveling abroad, many Chinese have to spend their holidays at the country's resorts, and the beaches of Hainan are especially popular.



Hainan Provincial Bureau of International Economic Development

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