Hainan will substantially increase the annual offshore duty-free shopping quota for visitors from Wednesday as part of the efforts to boost development of Hainan Free Trade Port, officials said on Tuesday.
A group of experts and scholars recently published a paper evaluating the business environment of Chinese provinces in Business Management Journal and revealed that Hainan ranked 12th among 31 Chinese provinces, autonomous regions, and municipalities.
Further key details have emerged of the changes to China's offshore duty free shopping policy to be introduced in Hainan province on 1 July, including a tremendous boost to the travel retail wines & spirits sector.
As the largest special economic zone in China, Hainan has unique advantages of comprehensively deepening reform and testing the highest level of opening-up policies.
China's Hainan Province will increase its annual tax-free shopping quota for travelers, according to the Ministry of Finance (MOF) Monday.
The Tan Suo Er Hao, the mother ship of China's first manned submersible that is fully equipped with homemade scientific research operation equipment, arrived at Nanshan Port of Sanya Yazhou Bay Science and Technology City on June 28.
China announced on Sunday that it will temporarily adjust the implementation of five administrative regulations in the pilot free trade zone (FTZ) of the southernmost province of Hainan to support its all-round reform and opening up.
