China Expands Domestic Duty-Free Shopping, Encourages Sales of Trendy Domestic Products
BEIJING, August 28,2024 – China is further refining its domestic duty-free shop policy, aiming to promote the sale of trendy domestic products while fostering thehealthy development of the industry. The Ministry of Finance, Ministry of Commerce, Ministry of Culture and Tourism, General Administration of Customs, and State Taxation Administration jointly issueda Notice on Improving the Policy of Domestic Duty-Free Shops (hereinafter referred to as the Notice).
The Notice clarifies that starting from October 1, 2024, the management of domestic duty-freeshops will be standardized according to the Interim Measures for the Administration of Domestic Duty-Free Shops (hereinafter referred to as the Measures).
According to the Notice, the existing six domestic duty-free shops in Beijing, Shanghai,Qingdao, Dalian, Xiamen, and Sanya will be subject to the Measures from the date of its implementation. Furthermore, thirteen existing foreign exchange commodity duty-free shops in Beijing, Shanghai, and Harbin will have three months to transform into domestic duty-free shops, commencing operations after passingcustoms inspection. Additionally, eight new domestic duty-free shops will be established in Guangzhou, Chengdu, Shenzhen, Tianjin, Wuhan, Xi’an, Changsha, and Fuzhou.
The Measures stipulate that the target customers for domestic duty-free shops are travelers holding valid entry and exit documentswho are scheduled to depart via air or international cruise within 60 days (inclusive). These travelers can purchase duty-free goods at domestic duty-free shops located within the city of their departure port and collect their purchases at designated duty-free goods collection points located in the departure quarantine area of the port. They mustcarry the goods out of the country at once.
Domestic duty-free shops primarily sell easily transportable consumer goods. The policy encourages the sale of trendy domestic products, specifically including those with independent brands and those that contribute to the dissemination of Chinese traditional culture.
This move is a significant step in China’s efforts to promote domestic consumption and bolster the development of its own brands. By encouraging the sale of trendy domestic products, the government aims to enhance the visibility and appeal of Chinese brands both domestically and internationally. This strategy is expected to contribute to the growth of China’s manufacturing sector and foster a more robustdomestic market.
The expansion of domestic duty-free shops also reflects the government’s commitment to improving the travel experience for both domestic and international tourists. By providing convenient access to duty-free goods within major cities, the government hopes to attract more tourists and stimulate economic activity in these areas.
The implementation of thenew policy is expected to have a significant impact on the retail sector in China. Domestic brands are poised to benefit from increased exposure and sales opportunities, while consumers can expect a wider selection of duty-free goods at competitive prices.
This policy shift is a testament to China’s evolving economic landscape and its commitment topromoting domestic brands and fostering a more vibrant consumer market. The success of this initiative will depend on the ability of domestic brands to meet the demands of discerning consumers and capitalize on the growing popularity of duty-free shopping in China.
【source】http://www.chinanews.com/cj/2024/08-29/10276276.shtml
Views: 0