China to Launch Hainan Free Trade Port on Dec. 18, but Wine and Spirits Excluded From Duty-Free List.
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Hainan
New data from 2024 reveal a steep 29.3% drop in total duty-free sales, reflecting both weakened consumer sentiment and the fading allure of Hainan’s “tourism + duty-free” model. Read More
A wine merchant in Hainan, China’s southernmost province, has been fined more than 100 times the retail price for selling expired Moscato from Accolade Wines, Australia’s second-largest wine producer, amid ongoing struggles to deplete aging inventory. Read More
In a joint operation targeting wholesale markets of food and drinks, authorities in Hainan seized over 500 bottles of fake Penfolds. Read More
Prior to the pandemic, Chinese tourists were the largest source of tourism revenue globally. Read More
After removing tariffs, Hainan, China’s biggest duty-free market, is planning to remove VAT and excise tax for imported wine and spirits in a bold move to boost its attractiveness for tourists. Read More
Hong Kong is losing its allure as a shopping paradise to deep-pocketed mainland tourists living in Greater Bay Area. Read More
It's an intense week in China. The unfolding Taiwan Strait crisis and newly imposed lockdowns in Sanya and Yiwu could spook market and investors. But in Hong Kong, the city has finally cut hotel quarantine to 3 days. Read More
Penfolds, the flagship Australian wine brand owned by Treasury Wine Estates, is far from winding down its business in China in wake of crushing tariffs, and has just unveiled a China-exclusive wine with the country's VATS Liquor Store, a nationwide wine and spirits distributor. Read More
China's biggest duty-free island province, Hainan, has reported RMB 46.8 billion in sales from last July to June this year, aided by increased spending limit and global travel restrictions. Read More