CHINA. Offshore duty-free sales surged +49.6% year-on-year to CNY3.89 billion (US$557.4 million) between 18 December – date of the Hainan Free Trade Port island-wide customs closure – and 10 January.
According to a report by state-controlled Xinhua News Agency, verified by The Moodie Davitt Report, the General Administration of Customs recorded 585,000 duty-free shoppers on the island over the same period, up +32.4% year-on-year.
Average daily traffic of 24,000 supported sales averaging CNY160 million (US$22.9 million) per day, surpassing pre-closure levels.
Duty-free sales also benefited from an enhancement to the offshore duty-free policy on 1 November which, as reported, added new categories, including pet supplies, portable musical instruments, small appliances and consumer electronics, plus six types of domestic goods. 🏝️
