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China’s Hainan free-trade port plan off to fast start as duty-free shopping soars in first week

Summary:
[unable to retrieve full-text content]Duty-free sales on China’s island province of Hainan surged in the first week of July after Beijing raised the annual tax-free shopping limit for tourists as part of its new free-trade port plan.Tourists, the vast majority who were Chinese, spent 450 million yuan (US million) on imported goods at Hainan’s four duty-free malls in the first week of July, according to the Hainan Customs Administration, after taking advantage of the new 100,000 yuan (US,300) annual per person tax-free limit…

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[unable to retrieve full-text content]
Duty-free sales on China’s island province of Hainan surged in the first week of July after Beijing raised the annual tax-free shopping limit for tourists as part of its new free-trade port plan.Tourists, the vast majority who were Chinese, spent 450 million yuan (US$64 million) on imported goods at Hainan’s four duty-free malls in the first week of July, according to the Hainan Customs Administration, after taking advantage of the new 100,000 yuan (US$14,300) annual per person tax-free limit…

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