Hainan duty-free sector hits US$34.5 billion in sales over 14 years

Hainan duty-free sector hits US$34.5 billion in sales over 14 years

CHINA. Hainan’s offshore duty-free sector has generated total sales of CNY250.1 billion (US$34.5 billion) over the past 14 years, according to latest data from Haikou Customs. The offshore duty-free shopping scheme was introduced on a pilot basis in September 2011 to boost tourism and domestic spending on the island (the province was permitted to run the scheme in April that year). The growth of Hainan’s offshore duty-free sector has been driven…