CHINA. Hainan’s enhanced offshore duty free shopping has generated sales of CNY90.6 billion (US$ 13.55 billion) since it was introduced on 1 July 2020, according to a report from Hainan Daily.
Quoting an official release from the Hainan Provincial Committee of the Communist Party of China (Hainan Provincial Information Office), the report said that 125 million individual products has been sold in the two-year period to some 12.28 million customers.
The average daily shopping amount reached CNY124 million (US$18.5 million), an increase of +257% compared with the figure prior to what has been dubbed the ‘New Deal’.
The top three categories by sales value were cosmetics, watches and jewellery.
