毕马威：海南自贸港旅游零售白皮书2025版（英文版）

Hainan is the only off-shore duty-free shopping destination in China, and its travel retailmarket is steadily gaining momentum. Despite fluctuations in 2024, the first quarter and thefourth quarter recorded 44.6% and 24.9% quarter on quarter growth respectively, reflecting athriving market. According to the latest policy, the annual duty-free shopping quota foroffshore tourists in the Hainan Free Trade Port is CNY 100,000, one of the highest globally.This and the high-quality line-up of duty-