"Hainan’s Seven Measures to Promote Spending" has just been launched in order to combat the effects of the COVID 19 pandemic and reach an annual growth goal for total retail sales of consumer items.

1. New Relaxed Duty Free Shopping Policies

Hainan hopes to attract more high-end brands offering a larger variety of duty-free items. All kinds of special duty-free promotions will be supported, expanding the scope of online sales. Additionally, three duty-free shops will be opened in Sanya in the second half of 2020.

2.Automobile Sales Encourages

Allocations for passenger cars will be improved and restrictions on car purchases are to be relaxed. More sales promotions are encouraged, with special subsidies on offer to companies reaching sales targets. Green, new energy vehicle sales are encouraged, with buyers of these clean energy vehicles eligible for a 10,000 yuan subsidy between May 1 - Dec. 31, 2020.

3.E-retail to be improved

The newly released "Measures" also suggests strengthening collaboration between large e-retail enterprises and city & county governments. Subsidies and discounts should be offered to qualified e-retail enterprises, with subsidies topping out at 500,000 yuan.

4. Stimulating F&B spending

Subsidies will be available to qualified F&B companies. The Department of Commerce of Hainan Province plans to hold activities with the goal of increasing spending by accepting lower profits, with subsidies on offer for participating companies according to their earnings. At the same time, credit support for F&B companies is also to be strengthened.

5.More, bigger promotions

Hainan plans to hold over 100 special promotions for tourism, food, and shopping by the end of the year!

6.The “Hainan Pass” to be improved

The “Hainan Pass” app will be improved, offering more discounts for all aspects of life. This app offers coupons for companies featured on the app, and provides a platform for all kinds of promotions and government subsidies.

7.Statistics and Investigation supervision to be strengthened

Overall investigations are to be launched in Hainan, and companies that have consistently exceeded targets for two years running will be added to a list of such companies, with overall statistics implemented. Statistics supervision will be strengthened to prevent omissions or concealment.