Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Hainan opens doors to woo more visitors

By MA ZHIPING in Haikou and ZHONG NAN, CHEN JIA in Beijing | China Daily | Updated: 2020-07-01 07:13
Share
Share - WeChat
Tourists buy handbags at a duty-free shop in Haikou, Hainan province.[Photo/China News Service]

Province increases duty-free shopping quota, adds more product categories

Hainan will substantially increase the annual offshore duty-free shopping quota for visitors from Wednesday as part of the efforts to boost development of Hainan Free Trade Port, officials said on Tuesday.

The Ministry of Finance, the General Administration of Customs and the State Taxation Administration said in a statement on Monday that individuals will be allowed to make duty-free purchases of 100,000 yuan ($14,130) every year, compared with 30,000 yuan now.

The categories of duty-free goods will also be expanded from the current 38 varieties to 45, with some electronic products such as smartphones, laptops, game players and wine products being added to the duty-free list.

The duty-free shopping policy was introduced in 2011 to help Hainan develop as a world-class international tourism destination and the shopping quota has been upgraded since then gradually. Offshore duty-free shopping volume stood at 53.8 billion yuan and the number of buyers amounted to 16.31 million by the end of 2019, according to data from the local Customs authorities.

"The move shows that the central authorities are not only using policy tools to meet tourists' spending desire and further stimulate their purchasing power in Hainan, but also injecting fresh momentum to the province's service sector, including airlines, cruises, conferences and exhibitions, catering and hospitality businesses to drive cross-industry collaborative development," said Liang Ming, a researcher with the Beijing-based Chinese Academy of International Trade and Economic Cooperation.

He said this is part of the country's efforts to put in place economic and trade rules that match global standards. This has sent an important signal that China is fully capable of adopting proactive policies and promoting vigorous institutional innovation while mitigating the impact caused by the COVID-19 epidemic.

In addition to helping Hainan attract more tourists from other provinces during the post-COVID-19 era, he said the increased offshore duty-free shopping quota will attract tourists from the Association of Southeast Asian Nations, Russia and other parts of the world.

"The expanded quota policy, especially the lifting of the 8,000-yuan limit on a single duty-free product, will unlock the consumption power of high-end Chinese consumers, attract Chinese residents who will otherwise go shopping overseas to buy international brands, to Hainan island," said Xie Xiangxiang, an associate professor of tourism at Hainan University.

He said duty-free shopping is expected to become the new blockbuster "growth point" for Hainan's tourism industry.

Four duty-free shops are currently in operation in Hainan, with two in Haikou, the provincial capital, one in Boao of Qionghai on the eastern coast of the island and one in Sanya, a coastal resort city at the southern tip of Hainan island.

A new duty-free shopping city is under construction on the western coast in Haikou. Spread over 926,000 square meters and entailing an investment of 12.86 billion yuan, it will be a new shopping paradise when completed in 2023, according to the city government.

Luo Zilian, head of the General Administration of Customs' Sanya branch, said Hainan has benefited from its visa-free access for 59 nations by tapping into the local tourism boom and the Hainan Free Trade Port's greater connectivity. Customs authorities will continue to upgrade supervision over e-commerce activities to help consumers purchase more duty-free products.

The Ministry of Finance said on Tuesday that companies registered in the Hainan Free Trade Port and operating businesses in areas encouraged by the government can enjoy lower corporate income tax rate of 15 percent, which is lower than the general level of 25 percent for most companies in the country.

For foreign companies' income earned through their newly increased direct investment in tourism, modern services and high-tech industries in the port, the corporate income tax will be exempt, according to the ministry.

The Ministry of Finance and the country's tax authorities also clarified that income-tax exemptions would be given to high-end and most-needed talents. All the favorable tax policies are effective until 2024 and seek to support the development of the Hainan Free Trade Port, said a statement on the finance ministry's website.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲福利视频一区二区| 国产大学生一级毛片绿象| 久久99精品久久久久久久久久 | 中文字幕影片免费在线观看| 欧美性受xxxx狂喷水| 制服丝袜一区二区三区| 麻豆精品久久久久久久99蜜桃| 在线精品自拍亚洲第一区| 中文字幕欧美日韩在线不卡| 欧美一级在线视频| 人妻少妇精品视频专区| 草草影院ccyy国产日本欧美| 国产精品无码久久久久久久久久| 久久久一本精品99久久精品66| 欧美性色黄在线视频| 动漫人物桶机动漫| 97国产在线播放| 国产高清在线精品一区| 一级毛片a免费播放王色| 日韩在线播放中文字幕| 亚洲欧洲高清有无| 综合五月天婷婷丁香| 国产欧美日韩一区二区三区在线 | 国产亚洲欧美日韩亚洲中文色 | 91丁香亚洲综合社区| 德国女人一级毛片免费| 久久精品国产99国产精品澳门| 欧美色图亚洲图片| 再深点灬舒服灬太大了男小| 领导边摸边吃奶边做爽在线观看| 国产精品自在线拍国产手青青机版 | 亚洲欧美日韩在线观看看另类| 美女黄频免费网站| 国产欧美va欧美va香蕉在线观看| AV无码免费看| 成人亚洲综合天堂| 久久久青草青青亚洲国产免观| 欧美日韩一级片在线观看| 全免费一级毛片在线播放| 高h视频在线观看| 国产精品福利电影|