South China's island province of Hainan has reported robust offshore duty-free sales during the just-concluded eight-day National Day and Mid-Autumn Festival holiday season, according to the local customs bureau on Thursday.
The Haikou Customs in the provincial capital city of Haikou oversaw duty-free sales totaling 944 million yuan (about 132.5 million U.S. dollars) in approximately 122,900 transactions during the holiday running from Oct. 1 to 8, with an average per capita spending of 7,685 yuan (about 1079.4 U.S. dollars), representing a year-on-year increase of 13.6 percent, 3.2 percent, and 10 percent, respectively.
To improve the shopping experience, the Haikou International Duty-Free City has launched drone delivery services, allowing goods to be delivered from duty-free shops to the port in the minimum of one and a half minutes. Since January, the drone delivery has transported over five million duty-free items.
China released a master plan in June 2020 to build Hainan into a globally influential, high-level free trade port by the middle of the century.
Boosted by the policy, the southernmost Chinese province has become an attractive shopping destination for domestic consumers, now boasting 12 offshore duty-free stores.
Hainan reports robust duty-free sales during National Day holiday
The "soft landing" of the China-EU electric vehicle case will greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment, a spokeswoman of the Ministry of Commerce (MOC) said at a press briefing in Beijing on Thursday.
He Yongqian, the spokeswoman, made the remarks after China and the European Union (EU) agreed on the necessity of providing general guidance on price undertakings for Chinese companies exporting battery electric vehicle (BEV) passenger cars to the EU.
"China and the EU simultaneously announced on Monday that they had achieved positive outcomes following multiple rounds of consultations on the EV case, a development that has drawn wide attention at home and abroad. Industry players from both sides have 'highly welcomed and fully endorsed' the outcome, saying the 'soft landing' of the case is expected to greatly boost market confidence and inject new momentum into China-EU cooperation in automobile trade and investment. Some EU politicians have described it as a positive step toward building a sustainable China-EU trade relationship, and said it demonstrated that resolving trade differences through partnership remains feasible," she said.
"Against the current international backdrop, China and the EU, acting in a spirit of mutual respect and within the framework of WTO rules, have properly addressed the EV case, which is of significant positive importance. The outcome will not only contribute to the sound development of China-EU economic and trade ties and help safeguard the stability of the global automotive industrial and supply chains, but will also send a clear and strong signal that both sides are willing to uphold a rules-based international trading order, setting a good example for countries to resolve differences through dialogue and consultation and injecting greater certainty and positive energy into global economic growth," she said.
"China appreciates the spirit of dialogue showed by the EU side and stands ready to work with the EU, building on the current positive outcomes, to further implement the consensus reached by the leaders of the two sides, maintain dialogue and communication, and support stable industrial and supply chains on both sides, continue to deepen cooperation on the basis of market principles, and make active contributions to the global green transition," she added.
"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman
"Soft landing" of China-EU EV case to significantly boost market confidence: MOC spokeswoman
