The "Dongfeng" of the Consumer Expo will accelerate the recovery of the duty-free market in Hainan's outlying islands

　　Yu Mengmeng

　　On July 25, the 2nd China International Consumer Goods Expo (referred to as "Consumer Expo") opened in Haikou City, Hainan Province.

At this point, Hainan Province launched the second round of consumer voucher issuance activities, which will invest 100 million yuan this time.

Among them, about 60% of the funds are issued for outlying island tax-free consumption coupons, about 30% of the funds are issued for catering, retail and other fields, and about 10% of the funds are issued for home appliance consumption coupons.

　　In the first half of the year, the duty-free market of outlying islands in Hainan was under pressure.

Hainan Province has launched a number of policies to promote consumption, including the issuance of 20 million yuan of tax-free consumption coupons for outlying islands, etc. The passenger flow has gradually recovered, and duty-free sales in outlying islands are showing a recovery trend.

Industry insiders said that with the opening of the second Consumer Expo, Hainan's passenger flow will accelerate to recover, and the continuous repair of offline duty-free sales is worth looking forward to.

　　Promote consumption "magnify"

　　Since April 28 this year, Hainan Province has launched the first round of consumer coupon issuance activities. So far, 100 million yuan of consumer coupons have been basically issued.

According to statistics, the first round of consumer coupons directly boosted social consumption by 1.56 billion yuan, and it is expected to boost overall consumption by about 4.5 billion yuan.

Driven by this, the total retail sales of social consumer goods in Hainan Province in June was 18.625 billion yuan, a year-on-year increase of 2.7%.

The turnover of key areas such as outlying islands duty-free, automobiles and catering increased by 28.4%, 28.1% and 27.7% respectively.

　　According to the Hainan Provincial Department of Commerce, this round of consumer voucher issuance activities will superimpose the effect of the Consumer Expo and magnify the effect of the use of funds.

The seven cities and counties of Haikou, Sanya, Danzhou, Wenchang, Qionghai, Wanning, and Chengmai are responsible for organizing the issuance of consumer coupons to further consolidate the foundation for consumption recovery and enhance the driving effect of consumption on the economy.

Consumption coupons will give priority to supporting key industries - island duty-free, catering, automobiles, and home appliances, and issue tax-free consumer coupons, home appliance consumer coupons, retail and catering consumer coupons.

　　For funding arrangements, Hainan Province will consider arranging about 60% of the funds to issue tax-free consumption coupons for outlying islands; arranging about 30% of the funds to issue consumption vouchers in catering, retail and other fields to meet the daily consumption needs of the masses; arranging about 10% of the funds to issue Home appliance consumption coupons help the recovery of home appliance consumption.

At the same time, in order to expand the influence of the event, various industries have responded to the participation, and the leading home appliance distribution companies will arrange funds and government funds to issue consumer coupons together.

　　Passenger flow gradually recovers

　　In order to promote consumption, Hainan Province has introduced a number of measures, including issuing 20 million yuan of tax-free consumption coupons for outlying islands, and the passenger flow has gradually recovered.

On June 28, the first Hainan International Outlying Islands Duty Free Shopping Festival kicked off, and major duty-free shops have successively launched a series of promotional activities.

　　Driven by the policy, duty-free consumption has shown a clear recovery trend.

From June 25 to July 16, the amount of duty-free shopping on outlying islands reached 2.66 billion yuan, a year-on-year increase of 5.14%.

Among them, the sales of duty-free goods in the four outlying island duty-free shops in Sanya reached 2.05 billion yuan, a year-on-year increase of 11.4%.

　　The Consumer Expo is a good time to boost duty-free consumption.

According to the research report of Bank of China Securities, with the stabilization of the epidemic, a number of measures have been introduced and implemented, and favorable factors such as shopping festivals have been superimposed, and the duty-free sales market in the outlying islands of Hainan Province has recovered well.