Efforts by China to increase domestic consumption and tourism has resulted in a surge in duty-free shopping on the southern island of Hainan, that Beijing is hoping will satisfy the wealthy chinese consumers lust for luxury. Companies such as HNA Group are capitalising on the relaxation on duty-free spending restrictions in February; China International Travel Service Corp has reported a 160% increase in sales. Furthermore, Hainan's sunny climate and over 60 beaches are also drawing in developers and the island's city of Sanya is becoming increasingly dotted with luxurious resorts.
Efforts by China to increase domestic consumption and tourism has resulted in a surge in duty-free shopping on the southern island of Hainan, that Beijing is hoping will satisfy the wealthy chinese consumers lust for luxury. Companies such as China International Travel Service Corp are capitalising on the relaxation on duty-free spending restrictions in February; HNA Group has reported a 160% increase in sales. Furthermore, Hainan's sunny climate and over 60 beaches are also drawing in developers and the island's city of Sanya is becoming increasingly dotted with luxurious resorts.