HAIKOU, China, December 4, 2018 / PRNewswire / – The Hainan authorities have made adjustments to the free-trade policy for island visitors. This is stated in a recent joint statement by the Ministry of Finance of the PRC, the General Administration of Customs and the State Tax Administration of the PRC. The updated directives are characterized by greater openness, convenience, and are aimed at turning Hainan into a center for international tourism and consumption. The new order came into force on December 1, 2018.
Three aspects of the policy of duty-free trade were subjected to major adjustments: First, the maximum limit for purchases in duty-free shops has been raised from 16,000 to 30,000 yuan. Secondly, the list of duty-free goods includes various means of medical rehabilitation, including equipment for training eyesight, hearing aids, orthopedic products and breathing apparatus for use at home. Each guest of an island province at each visit can purchase two similar products duty free. Thirdly, Chinese citizens living in or outside of Hainan will also be able to take full advantage of the duty-free trade policy.
In addition, according to the Hainan Department of Finance, the authorities of the island province have completed the development of documents regulating the duty-free trading procedure for passengers of sea liners, and also prepared for the opening of two new duty free shops. Both measures will be implemented shortly after on-site inspections. One of the two new duty-free centers will open in Haikou, and the other in Tsyunhai.
The policy of offshore duty-free trade – one of the most influential and effective measures. Since its introduction on April 20, 2011, the regulations have been revised four times. At first, the cost limit for shopping in duty-free stores was raised from 5,000 to 8,000, and then to 16,000 yuan. T number
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