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The world's largest duty free store will open in Haikou

03.10.2022 ТАСС 43 просмотров

By now, more than 800 Chinese and foreign brands are ready to place their products in this duty free store, the Hainan Daily newspaper writes

The world's largest duty free goods store will open in the Chinese city of Haikou (southern Hainan Province) on October 28 this year. This is reported by the local newspaper "Hainan Zhibao".

The store itself with an area of 280 thousand square meters is part of a huge complex. It will also house, in particular, a hotel, office space and other shops selling ordinary goods. By now, the newspaper writes, more than 800 Chinese and foreign brands are ready to place their products in this duty free store.

The Hainan authorities launched an experimental program to create a developed duty free network in 2011. Currently, there are nine duty-free shops on the island, they are located in the administrative center of the province - the city of Haikou, the resort of Sanya, as well as in the coastal town of Boao in the Qionghai district in the northeast of Hainan.

Since July 1, 2020, the provincial authorities have increased from 30 thousand to 100 thousand yuan (from $ 4.2 thousand to $ 14.2 thousand) the quota per person for purchases in duty-free shops of the province. The list of duty-free goods was expanded from 38 to 45 items. Since February 2 last year, Hainan has also launched a service for the delivery of duty-free goods to the destination by mail to customers leaving the island.

In 2021, the sales volume of duty free stores in Hainan exceeded 60 billion yuan (about $8.5 billion), an increase of 84% year-on-year. This year, the island's authorities expect that this figure will be brought to 100 billion yuan ($ 14.2 billion).

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