Hainan Province is not only a top choice for holidaymakers, but also the largest special economic zone in China, followed by Shenzhen, Xiamen, Zhuhai and Shantou.

The services sector is the main source of the island’s revenue. According to Hainan Statistical Yearbook 2015, 51.9 percent of the province’s GDP was from the tertiary industry in 2014. Tourism income reached 46.9 billion yuan (6.8 billion US dollars).

To further push forward the local economy, Hainan Province was granted an offshore duty-free policy in 2011. Tourists can now enjoy tax-free shopping before they leave. In 2016, limitations on the frequency of shopping on the island were canceled and the spending ceiling was lifted to 16,000 yuan (2,300 US dollars) per capita each year.

There are now more than 50 tourist attractions on the island, and the province plans to transform the island into an international tourism hotspot.

Foreign trade is of great importance to the island province. The import-export volume last year reached 74.8 billion yuan (10.8 billion US dollars). Agricultural products were the main source of export, accounting for 3.44 billion yuan (500 million US dollars). Merchandise, like cosmetics, watches and skin-care products, was the main import of the province in 2016, hitting 4.45 billion yuan (640 million US dollars).