KUALA LUMPUR, Dec 4 (Bernama) -- The policies on offshore duty free shopping for visitors to Hainan Island have been adjusted involving three main aspects aimed to transform Hainan into an international tourism consumption center.
The new policies which came into force on Dec 1 has increased offshore duty-free shopping allowance for visitors from RMB 16,000 to RMB 30,000; covered multiple rehabilitation medical devices by the tax-free list and equal effective duty-free policies for Chinese citizens who live in or outside of Hainan.
A joint statement was made by the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation of the PRC.
The preliminary work on the duty-free shopping for passengers by sea and for two more duty-free shops (in Haikou and Qionghai) has been finished and the two policies will be officially implemented after onsite inspection according to Hainan Provincial Department of Finance.
The offshore duty-free policy has been revised for four times since its implementation on April 20, 2011. Train passengers, other than airline passengers and people who shop online in addition to shopping in-store also gain benefits from the policies.
The adjustment opens a wider channel for international luxury brands to enter the market of Hainan and other places in China and offers greater convenience for the majority of visitors to Hainan, the statement said.
It also helps the transformation to shopping in Hainan from shopping overseas and drives the development of service industries as well as turn Hainan into a pilot free trade zone and a free trade port with Chinese characteristics.
Since April 20, 2011 to the end of Oct 2018, Hainan's offshore duty-free shops have achieved an accumulative sale of RMB 38.5 billion, receiving over 12 million tourists.
-- BERNAMA
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