China's Hainan posts surging duty-free sales

Sales of offshore duty-free shops in China's island province of Hainan reached 10.85 billion yuan (about $1.63 billion) from July 1 to Oct 19, an increase of 218.2 percent year-on-year, customs data showed.

Data from Haikou Customs showed that Hainan's offshore duty-free shops received some 1.44 million customers and sold 11.6 million duty-free products during the period, up 58.5 percent and 142 percent year-on-year, respectively.

Starting on July 1, Hainan increased its annual tax-free shopping quota from 30,000 yuan to 100,000 yuan per person.

The range of duty-free goods has also expanded from 38 categories to 45, while the previous tax-free limit of 8,000 yuan for a single product has been lifted.

According to the provincial bureau of statistics, the total retail sales of consumer goods in Hainan have achieved year-on-year growth for five consecutive months since May, driven by the rapid growth of duty-free product sales.