The growth follows an expansion of Hainan's duty-free policy a month earlier, which now allows departing international travellers to shop duty-free and widens the range of eligible goods to 47 categories.
India and New Zealand concluded a landmark FreeTrade Agreement (FTA) on Monday, aimed at boosting trade, investment, and mobility between the two nations. Negotiations for this had begun in March... .
The island-wide special customs operations in Hainan have ignited a tourism and spending surge, with duty-free sales in Sanya exceeding 100 million yuan ($14.2 million) for four consecutive days, industry data shows.
India which has ambitions to become an export powerhouse has been looking to diversify its exports. This is the third trade pact India has signed this year ... .