Hainan increases duty free allowance to 100,000 yuan

Southern Hainan province will increase its annual tax-free shopping quota for travelers, according to the Ministry of Finance, Xinhua reports.

With effect from Wednesday, the quota will be raised to 100,000 yuan (US$14,123) per person each year from the current 30,000 yuan, the ministry and China's customs and taxation authorities said in a joint statement on Monday, Xinhua reports.

The categories of duty-free goods will also be expanded, said the statement, while some electronic products will be added to the duty-free list.

The current tax-free limit of 8,000 yuan for a single product will be lifted, and the number of categories with a single-purchase quantity limit will be significantly reduced, according to the statement.

The duty-free shopping policy was implemented in April 2011 and has been improved since then, with the sales of offshore duty-free shopping hitting 53.8 billion yuan and the number of buyers reaching 16.31 million by the end of 2019.