BEIJING (XINHUA) – China’s island province of Hainan has recorded spending on offshore duty-free shopping by visitors of CNY450 million (about USD64.34 million) from July 1 to 7, according to the General Administration of Customs.
During the period, the average daily tax exemption was CNY9.39 million, up 58.2 per cent from the average daily amount in the first half of the year, the administration said.
Cosmetics, jewellery and watches were the most popular products, with their sales accounting for 77.3 per cent of the total.
Starting from July 1, Hainan has increased its annual tax-free shopping quota from CNY30,000 to CNY100,000 per person each year.
The range of duty-free goods has also expanded, growing from 38 categories to 45, while the previous tax-free limit of CNY8,000 for a single product has been lifted.
China released a master plan in early June on building the southern island province into a globally influential free trade port.
The customs administration said individuals who resell or smuggle duty-free goods will have the action included in their personal credit report, in accordance with laws and regulations, and will not be allowed to purchase off-shore duty-free goods for three years.