CHINA. In the first month following the customs closure of the Hainan Free Trade Port, the island’s offshore duty-free market has delivered impressive results.
According to Haikou Customs, from 18 December (the day of the change) to 18 January, Hainan’s offshore duty-free sales reached CNY5.02 billion (US$720 million), up +46.8% year-on-year.
The number of shoppers rose to +29.7% to 772,000.
A total of 3.621 million duty-free items were purchased, a +14.3% year-on-year gain
The enthusiastic spending by consumers fully demonstrates the vitality of Hainan’s duty-free market under the new Free Trade Port structure, Haikou Customs commented. 🏝️
