Hainan Islands Duty-Free Products Annual Sales Are Expected To Increase Substantially.

The Ministry of Finance issued a 24 day adjustment.

Islands passenger duty free shopping policy announcement.

Both Hainan officials and industry members said that the annual sales of duty-free goods in Islands, Hainan were expected to increase substantially in the policy adjustment, especially for the sale of high priced goods, including luxury goods.

But this will not pose a threat to the status of Hongkong shopping center.

At the press conference, Liu Pingzhi, director of the Finance Department of Hainan Province, focused on explaining the policy implications of raising the quota and purchasing more than 8000 yuan RMB merchandise tax preference.

He said the quota increased from 5000 yuan to 8000 yuan, which could cover most of the high priced commodities that most tourists demand.

According to statistics, more than 60% of the goods in Hainan Islands purchase more than 5000 yuan per unit price are concentrated in the price range of 5000 yuan to 8000 yuan. Preferential regulation of the use of tax-free shopping quota is conducive to a substantial increase in the shopping space of tourists and the release of shopping demand, which is conducive to solving the current problem.

The sale of high priced goods is weak, and the price of goods is upside down with the price of goods in the domestic tax market.

Since April 2011, Hainan has implemented the Islands tax exemption for obvious economic benefits, but the average per capita purchase is only 2070 yuan, and the rate of tourist entry is also lower than expected.

Zhou Ting, President of the Research Institute and the Institute of wealth quality, thinks that unlike most of the overseas duty-free shops, the two or three line consumption products of Hainan duty-free shops are more and the brands are less.

Zhang Yiqing, general manager of Hainan duty-free products Co., Ltd. disclosed that consumers who bought more than 5000 yuan duty-free products accounted for only 5%.

This policy adjustment will promote the sale of high-end luxury goods, and products of 10 thousand to 20 thousand yuan will be more attractive to consumers.

He expects overall sales to double or even higher.

The duty free shops in Haikou will improve the quality of service and introduce more than 10 professional salesmen from Hongkong DFS global duty free shop for a long time.

Li Lanxue, Commissioner of customs and excise of Haikou, also said that the adjustment of the policy will expand the demand for shopping in Islands and increase the number of shopping and the number of purchases.

Earlier, the industry and the public have discussed more about food products such as milk powder and electronic products entering duty-free shops.

Tan Li, executive vice governor of Hainan Province, said that the national laws currently have restrictions on some imported duty-free products, and Hainan must abide by them.

The new beauty and kitchen utensils are also popular products.

This policy adjustment will be stable for some time.

He asked customs and taxation departments to provide a more convenient customs environment for Islands tax-free consumers.

Duty-free shops and travel agencies do well in promoting publicity, while increasing the number of first-line goods.

Tan Li believes that the whole city of Hongkong is tax-free shopping, while Hainan has only two North and South duty-free shops, and there is no comparison. Therefore, policy adjustment does not pose a threat to Hongkong.