20 Feb '12, 5am

Chinese city aims to stimulate with duty-free shopping project

Chinese city aims to stimulate with duty-free shopping project

By Tang Yue and Li Xiang China Daily/Asia News Network Monday, Feb 20, 2012 TIANJIN / BEIJING - With the once-famous Exotic Cargo Market having lost its appeal, Tianjin authorities are looking at turning Dongjiang Island into a duty-free shopping destination. The island is in Binhai New Area, a production base for about 120 Forbes 500 companies. It is only 45 minutes by car from downtown Tianjin and fewer than two hours from the capital. "Situated adjacent to Beijing and Tianjin, where consumption is robust, the zone will mean residents do not have to travel to Hainan or Hong Kong (to shop)," Yu Rumin, chairman of Tianjin Port, told China Daily. Hainan province, an island off the coast of South China, began offering duty-free shopping to Chinese citizens to boost its tourism industry. Several other cities, including Shanghai, now want to follow in its footsteps. Sales of l...

Full article: http://www.asiaone.com/News/AsiaOne%2BNews/Asia/Story/A1S...

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