Largest luxury duty-free mall to open in China, matching pricing of Singapore and Hong Kong
The world’s largest duty free mall is to open in Southern China’s resort city Sanya. The 70,000 square meter shopping destination is due to open next year said Chen Guoqiang, the assistant general manager of the China Duty Free Group, the operator of the project. The Mall will combine the duty-free shop with other services with an aim of creating a top international luxury consumption and experience center.
The duty-free shop will attract high-end international brands and other fashion labels, with pricing standards to match those in duty-free shops in Singapore and Hong Kong. The International Travel Service Limited (CITS) Group Corporation will invest 5 billion yuan (805 million US dollars) in the project.
The State Council, China’s cabinet, gave Hainan permission to implement the duty-free program on a trial basis in April 2011 as part of the efforts to promote the province as an international tourist destination. Last year, Hainan received 33.2 million tourists who stayed at least one night, and this figure is expected to grow in coming years.