NEWS
TFWA ASIA-PAC SHOW TO BE HELD NEXT MAY IN SANYA, CHINA’S NEW DUTY-FREE SHOPPING HUB
By Siulan Law Mathews DipWSET
30-11-2020
Source: Sanya Municipal Government
The management committee of the Tax Free World Association (TFWA) announced that the next TFWA Asia Pacific duty-free trade show will be held in the city of Sanya in China’s Hainan province, as the island province replaces Hong Kong to become China’s new duty-free shopping hub.
In an announcement made last Friday, TFWA said its next edition of Asia Pacific Exhibition & Conference will be held in Sanya, instead of the usual host city Singapore, in May 2021.
It said the show will combine physical and strong digital elements, and more details will be announced shortly.
“Hainan, as a dynamic and fast evolving part of China and a centre of recovery in our business, is the perfect location for this, the first chance for us to come together once again as an industry. I am sure that you will welcome this opportunity as much as I do, as we begin what we hope will be a fresh start for duty free and travel retail," said TFWA President Alain Maingreaud.
The island province of Hainan has replaced Hong Kong as China’s duty-free shopping hub in recent months, since Hainan authorities lifted the yearly duty-free shopping quota for individual visitors to RMB100,000 (USD15,220) from RMB30,000 in July.
The four duty-free outlets on the island, all run by the state-owned CTG Duty Free, reported long queues during the 8-day National day holidays last month, scenes like these used to be reported in Hong Kong.
According to Chinese media, wines, alcohol, mobile phones and tablets are among the most popular items while high-end Swiss watches also quickly vanished from store shelves.
Just two moths into the new policy, Hainan local authorities said duty-free sales grow 227 percent year-on-year to RMB8.61 billion in end of September.
Revenue of CTG Duty Free, which has 80 percent of China’s market share, was said to have surpassed that of the Basel-based Dufry Group which is the world’s largest operator of airport duty-free shops.
(the writer can be contacted at: info@thewinechronicle.com)
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