Hainan's new tax-free shopping policy came into effect on last Wednesday.
On the morning of July 3, the first batch of imported live cattle from Australia arrived at Macun Port in south China's Hainan Province after a 10-day journey at sea.
Sanya Phoenix International Airport will add 20 new duty-free goods pick-up windows in Terminal 1 for the convenience of global shoppers.
An iPhone 11 Pro Max with 512GB storage is priced at 10,210 yuan ($1443.69) in the duty-free shops in Hainan on Thursday — 2,489 yuan lower than Apple's official price — as new regulations for duty-free shopping in the free trade port are put into effect, the National Business Daily reported.
An online promotion meeting was held by the Hainan International Business Council (HIBC) and the China General Chamber of Commerce in Russia on June 30 to strengthen cooperation between Hainan and Russia in various fields, including business communication, tourism, the exhibitions industry, and bilateral trade.
Lowering taxes and raising duty-free quotas, China has taken concrete steps in line with a master plan released on June 1 to build the southern island province of Hainan into a high-level free trade port, showcasing the country's commitment towards both post-pandemic recovery and long-term economic growth.
Chinese authorities have rolled out preferential income tax plans for companies and individuals in the southern island province of Hainan to build it into a globally-influential free trade port.
