The Hainan province's offshore duty free shopping policy, implemented on July 1st 2020 as a result of China's Free Trade Port development on the island, has strengthened the travel retail shopping industry in China.
With the introduction of such policies, Hainan may represent a new major destination for local and international tourism and shopping.
Chinese consumers are responding to such policy with vigour, flocking to Hainan and soaring duty-free sales to an increase of sales of 250%.
Will Hainan become a globally-significant free trade port for travel retail in the years to come? Will this provide new access and opportunities for businesses that will emerge from this development?
Join us on our webinar on October 15 and hear from industry experts, Anson Bailey, KPMG and Esterina Nervino, RETAIL IN ASIA their insights on Hainan and its development as a fledgeling travel retail industry hub.