Hainan prospers with duty-free consumption

HAIKOU: South China’s island province of Hainan has seen exponential growth in duty-free sales a year after a new policy was implemented.

Hainan’s offshore duty-free sales hit 46.8 billion yuan (US$7.2bil or RM29.98bil) from July 1, 2020 to June 30, 2021, surging 226% year-on-year (y-o-y), the Haikou Customs said.