HAIKOU, April 20. /TASS/: The total revenue of Hainan's duty free stores over nine years exceeded 55 billion yuan (about $ 7.78 billion), according to the local customs office.
Over nine years since the launch of the pilot program for the development of duty free stores on the island, more than 16 million customers have shopped at the stores; the volume of sold goods reached 72 million.
At present, there are four duty free stores on the island: two in Haikou, one each in the resort town of Sanya in the southern part of the island and in Qionghaii in the east of the province.
Duty free stores on the island temporarily suspended their operations amid the coronavirus epidemic, however, since February 19, they have been open. According to the customs administration, by the end of March, the network’s sales reached 80% of revenue at the end of the first quarter of last year.
On April 20, 2011, the Chinese State Council approved the launch of a pilot program for the development of a duty-free store chain on the Island of Hainan to promote the island as a world-class resort. Visitors can make purchases up to 30,000 yuan (about $ 4,240) a year without paying duties.
