Hainan set to open two more duty-free stores

Global Times US Edition - - BIZOVE -

The lo­cal govern­ment of South China’s Hainan Prov­ince is strength­en­ing ef­forts to ap­ply openingup mea­sures and will put for­ward plans for the con­struc­tion of a pi­lot free trade zone (FTZ) on the is­land later this year, me­dia re­ports said on Thurs­day.

The prov­ince will in­tro­duce im­ple­men­ta­tion plans for an FTZ and a global tourism and con­sump­tion cen­ter later this year, news site thep­a­per. cn re­ported, cit­ing an of­fi­cial of the Hainan De­vel­op­ment and Re­form Com­mis­sion (HDRC).

The cen­tral govern­ment in April an­nounced it would sup­port Hainan in be­com­ing a pi­lot FTZ. The lo­cal govern­ment will help ad­vance the open­ing of a duty-free store in Haikou and the con­struc­tion of a duty-free store in Qiong­hai later this year, the lo­cal tourism author­ity was quoted as say­ing in the re­port. There is al­ready one duty-free shop in Haikou, Hainan’s cap­i­tal, and an­other in Sanya, the re­port said.

Hainan is sched­uled to wel­come some global cruise com­pa­nies and two to three in­ter­na­tional ho­tels later this year and will set up visa-free pub­lic ser­vice plat­forms for 59 coun­tries and re­gions, the re­port said. The prov­ince will also launch more air routes to desti­na­tions across the globe.

Duty-free shop­ping en­joyed in­creased pop­u­lar­ity in Hainan in the first half of this year. About 7.03 mil­lion items were sold in the first six months, with a value of 5.29 bil­lion yuan ($790.3 mil­lion), up 32.2 per­cent and 24.1 per­cent year-on-year, re­spec­tively, ac­cord­ing to the HDRC.

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