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Hainan gets approval for duty-free business

RBR Staff Writer Published 12 May 2011

The Chinese Government has gives its nod to conduct independent duty-free business in Hainan, the southern province in China, reports said.

This decision could prove to be a boon for the island, which has been looking for developing duty-free business. A pilot project was started in Sanya, Hainan's important city. The project was well received by shoppers, reports said. The approval would boost the provincial government's efforts to develop the province as an international tourist hub.

Hainan Airlines Co, the Chinese carrier, expects to benefit because of duty-free license as it has a 33% stake in Hainan International Tourism Island Development, a subsidiary of parent company Hainan Airlines Group (HNA Group). HNA Group is constructing a duty free store with a retail space of 2,000 sq m at Hainan's Meilan Airport. The store is expected to open by June.