Market closely follows duty free policy for Hainan residents

By Ding Xin / hicn.cn / Updated: 16:57,24-June-2021

TFWA The Duty Free & Travel Retail Asia Pacific Summit Hainan Special Edition

The TFWA The Duty Free & Travel Retail Asia Pacific Summit Hainan Special Edition was held online from June 21-24, inviting representatives from the global duty-free industry and retailers to discuss the future development of the Hainan duty-free market and the travel retail industry. At a round-table focusing on Hainan held on the 23rd, officials from the Hainan Provincial Bureau of International Economic Development and several duty-free operators also shared their thoughts about the current market environment and the development of the Hainan market.

Han Shengjian, director of the Hainan Provincial Bureau of International Economic Development said that Hainan is actively developing travel retail and exploring ways to promote the return of consumer spending. With the accelerated development of the Hainan FTP and the release of new policies, more and more consumers, duty-free enterprises, and talented individuals are coming to Hainan, an island becoming an important international duty-free shopping center.

Han Shengjian, director of the Hainan Provincial Bureau of International Economic Development

You Jiangwei, Chairman of the Shenzhen Duty Free Group, spoke on the operation of the Mission Hills Duty Free City in Haikou, which opened January 31 this year. "We believe that Hainan will become more and more of an international shopping destination favored by travelers from around the world, in consideration of both the policy perspective and market trends," said Mr. You.

You Jiangwei, Chairman of the Shenzhen Duty Free Group

Xie Zhiyong, Chairman and General Manager of the Hainan Tourism Investment Duty Free Co., Ltd gave an introduction to the development of the Sanya HTDF since its opening. In the first half of this year, the duty-free shop achieved total sales of 1.13 billion yuan, completed 95% of planned investment promotion work, and is expected to reach the rate of 90% for open businesses in the third quarter of 2021. "At present, the Sanya HTDF is following the concept of differentiated operation and actively introducing new brands. In accordance with Hainan’s duty free policies, we will also build new duty-free stores and duty-free stores offering imported goods for purchase by Hainan residents in due course," Xie Zhiyong said.

Xie Zhiyong, Chairman and General Manager of the Hainan Tourism Investment Duty Free Co., Ltd

Ken Zhu, Chief Operations Officer of CNSC Sanya Duty Free Co. said that since the opening of the CNSC Sanya Duty Free Shopping Park at the end of 2020, the average monthly performance growth rate of duty free stores from January to May this year has exceeded 100%. The number of brands has also increased from 220 at the opening to 309 today, and the number of product types has increased from about 8,000 to over 15,000. In addition to bringing in internationally renowned brands such as Estée Lauder and L'Oreal, other top brands such as Chanel that are of great interest to consumers are also being courted.

Ken Zhu, Chief Operations Officer of the CNSC Sanya Duty Free Co.

Chen Hui, General Manager and Board Director of the Zhuhai Duty Free Group said that there has been an increasing number of shopping categories and the gradual diversification of purchasing channels in Hainan's duty-free market, and he believes that Hainan still has a large slice of the market. The Zhuhai Duty Free Group will also enter the Hainan market and import goods for purchase by island residents if the policy allows.

Chen Hui, General Manager and Board Director of the Zhuhai Duty Free Group

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