The Hainan provincial government spells out its exciting plans for the next five years as the Free Trade Port development is accelerated

CHINA. Hainan province plans to grow its offshore duty free sector to over CNY60 billion (US$9.3 billion) in sales this year, an approximate +83% increase over 2020. That was the message from Acting Governor Feng Fei, speaking during the fourth meeting of the Sixth People’s Congress of Hainan Province, which opened in Haikou yesterday.

As reported, sales at Hainan’s offshore duty free shops (including tax-paid items) rose by +127% year-on-year in 2020 to around CNY32.74 billion (US$5.05 billion).

The 2021 offshore duty free sector is expected to be boosted by a continuing recovery from the COVID-19 pandemic; an expansion of offshore duty free licence holders; and the impending introduction of a new policy allowing Hainan residents to buy certain items duty and tax free without  leaving the island.

Feng Fei said that Hainan’s annual GDP is targeted to grow by over +10% in 2021, after increasing by +3.5% in 2020.

He described 2020 as an “extraordinary” year due not only to the COVID-19 pandemic but also because of the way it had been countered thanks to strong leadership from the Party Central Committee, the State Council and the Hainan Provincial Committee of the Communist Party of China, and the contribution of Hainan’s population.

Feng Fei described Hainan’s 14th Five-Year Plan as a  key period for the construction of a high-quality Free Trade Port with Chinese characteristics and as a “golden opportunity” for Hainan’s development and an important window period.

He praised the rapid development of the Free Trade Port concept to date (driven by the Hainan Provincial Bureau of International Economic Development/Hainan IEDB) and pledged continued rapid progress this year.

Note: As reported, Hainan  IEDB is organising the pioneering China International Consumer Products Expo in Hainan province on 7-10 May. To find out more, please contact Ruslan Tulenov, Global Media Officer & Supervisor, Hainan Provincial Bureau of International Economic Development.

Email: lusilan@investhainan.cn
WeChat: Ruslan24
Global Investment Service Hotline: +86 4008413413

Website: www.investhainan.cn

Hainan Island: Travel retail’s global hotspot

The Moodie Davitt Report will publish a Hainan Island Special Report with the China edition of The Magazine in February 2021. Written by Martin Moodie and Dermot Davitt, it will explore how the offshore duty free business in China has become critical to the world’s leading brands across many categories.

海南:旅游零售业的全球焦点

穆迪戴维特报告(Moodie Davitt Report)将于2021年2月随The Magazine的中文版发表《海南特别报道》。该篇由马丁·穆迪(Martin Moodie)和德莫特·戴维特(Dermot Davitt)撰写,将探讨中国的离岸免税业务是如何变得对跨类别的各大全球领先品牌至关重要。

报告将覆盖以下内容:

  • 评论与分析自2020年7月1日起,海南新离岸免税政策所引起的重大影响
  • 从美妆个护到时尚、钟表,从葡萄酒、烈酒到消费类电子产品的跨类别离岸免税额的潜力
  • 中免集团,中服免税店,DFS集团,Dufry, Hainan Development Holdings, 海南旅游投资发展公司,海南省国际经济发展局(Hainan IEDB),Wangfujing,拉加代尔旅游零售等集团的重要访谈和简介,尤其着眼于颇具潜力的海南免税店贸易港项目
  • 除海南外,我们还将考察中国国内市场的反弹情况,评估中国机场的前景,并希望终有一天能够恢复国际旅游通行,拥有来自内地,澳门和香港市场的领先旅游零售商的输入
  • 电商驱动力:评估旅游零售业的长期市场领导者Dufry与数字巨头阿里巴巴;以及CDFG和其他主要参与者,是否具备达成合作伙伴关系的潜力
  • 顶级旅行分析师ForwardKeys的专业意见
  • 在内容合作伙伴Globuy,iClick,Jing Daily,Jessica’s Secret和DutyFreeExpert的帮助下,分析有关中国消费者和免税市场的趋势

The report will feature:

  • Comment & analysis on the seismic impact of the new offshore duty free policy in Hainan since 1 July
  • The potential of new offshore duty free allowances across categories from beauty to fashion and watches and from wines & spirits to consumer electronics
  • Major interviews with and profiles of China Duty Free Group, CNSC, DFS Group, Dufry, Hainan Development Holdings, Hainan Tourism Investment Development Co, Hainan Provincial Bureau of International Economic Development (Hainan IEDB), Lagardère Travel Retail, Wangfujing and others, with a special focus on the ambitious Hainan Free Trade Port project
  • Beyond Hainan, we examine the rebound in the China domestic market, assess prospects for Chinese airports and hopes for an eventual return to international travel. With input from leading travel retailers in the Mainland, Macau and Hong Kong markets
  • The ecommerce drive: Assessing the potential of the partnership between travel retail’s long-time market leader Dufry and the digital powerhouse Alibaba; plus digital strategies at CDFG and other major players
  • Expert input from top travel analyst ForwardKeys
  • With contributions from our content partners Globuy, iClick, Jing Daily, Jessica’s Secret and DutyFreeExpert on trends among Chinese consumers and the duty free market

Contact Irene@MoodieDavittReport.com to partner with The Moodie Davitt Report for this special edition.