Goods at the first Hainan Expo to enjoy a new tax-free quota
Release time: 2021-09-09 15:00 Source: HICN
On March 24, the State Council Information Office held a press conference for the first China International Consumer Products Expo (hereafter referred to as the "Hainan Expo") to be held in Haikou, the capital city of Hainan, from May 7 to 10.
For exhibits at the Hainan Expo, a supporting consumer product tax exemption policy is currently being formulated, which will be different from the current island departure duty-free shopping policy. The purchase of duty-free goods in the exhibition hall will not count against the current island departure duty-free shopping quota of 100, 000 RMB.
In addition, the Expo policy differs from the current island departure duty-free policy which applies only to specific groups of people. The Expo policy will not only be applicable to tourists and exhibitors traveling in from outside the island, but also to Hainan residents, making duty free goods available to even more people.
At the same time, due to the high price of the premium goods on offer at the Hainan Expo, the duty-free shopping quota for this policy is expected to be higher than the 100,000 RMB of the island departure policy. This new policy will also allow for immediate pickup of purchases in the exhibition hall, offering more convenience to shoppers at the Hainan Expo.
It was also mentioned at the conference that Hainan is preparing to build a global consumer product center by taking the advantages of the preferential policies of the Free Trade Port, providing a platform for high-end consumer products from both China and around the world, so as to create a never ending "Hainan Expo".
The global consumer product center project is planned to be set up in Haikou and will focus on the needs of the development of the Hainan Free Trade Port all the way through 2035 and even further to 2050 in order to adapt to the continuous upward trend of global consumer economy.