As the Hainan Free Trade Port's island-wide special customs operations get underway, the optimization of the offshore duty-free policy, a key step in its opening-up drive, will help turn the island into a consumption hub that offers greater opportunities for both domestic and foreign players, experts said.
At the annual Central Economic Work Conference held last week, Chinese policymakers placed "boosting domestic demand" first among eight key priorities on the economic agenda for next year.
China will select some 15 cities for a pioneering two-year pilot program aimed at building a world-class consumption environment, and attracting spending from overseas tourists.
Travelers from Hainan province will have a wider array of duty-free goods to choose from under a policy expansion set to take effect Nov 1, including pet supplies, small drones, and portable instruments.
Tax authorities in Guangzhou, the capital of Guangdong province, have upgraded their tax refund services for departing visitors, following an increased number of overseas buyers visiting the China Import and Export Fair.
Bank of China held a launch event on Friday at the China International Fair for Trade in Services in Beijing to introduce its cross-region mutual recognition service for instant tax refunds on departure.
京公网安备 11010502049590
