CHINAUS. Offshore duty free sales over the peak five-day May Day holiday period (1-5 May) rose +248% year-on-year to an all-time RMB993 million (US$153.3 million) high, according to latest data released by Haikou Customs on Thursday, state-owned media chinanews.com reported.
Around 121,000 people purchased 1.35 million items, increases of +141% and +229%, respectively, the report, since confirmed by The Moodie Davitt Report, said.
Sales were boosted this year by the introduction of the enhanced duty free shopping policy last July. Among other measures, the duty free allowance was tripled to RMB100,000 (US$15,300), the single purchase limit removed, and the number of categories that could be sold duty free increased.
The news offers the perfect fillip to organisers of the inaugural China International Consumer Products Expo which got underway in Hainan’s capital, Haikou, today. Click here for our constantly updated report from the four-day event which concludes on 10 May.
