Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Xiamen to establish duty free zone
By Kevin Rozario |
Just as Ever Rich is putting the finishing touches to its downtown duty free shopping mall on Kinmen Island (part of Taiwan), just a few kilometres across the water in China, Xiamen is looking to establish a duty free zone.
The Xiamen Municipal Bureau of Commerce says that the zone will help to improve cross-Straits economic cooperation with Kinmen according to a report in the China Daily.
A duty free zone will offer services such as a cross-Straits finance centre, shipping centre, and trade centre and would potentially offer duty free suppliers a logistics base for the movement of goods, free of duties, in the region. The bureau did not say whether a duty free retail facility would be part of the project.
Xiamen already has a well-developed economy, easy access to transportation and is well known as a convention and exhibition city. Xiamen hosts the annual China International Fair for Investment and Trade in September to attract foreign direct investment into the Chinese mainland.
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