Hangzhou Customs announced on Nov 8 that the General Administration of Customs had recently approved the establishment of a duty-free shop in Yiwu Airport.
Upon its opening, it will mark the fourth duty-free shop to be operational in airports of East China's Zhejiang province. The other three duty-free airport shops are located in Hangzhou, Wenzhou, and Ningbo.
Products sold at duty-free shops are exempt from tariffs, import-related value-added taxes, and consumption taxes, according to an official from Hangzhou Customs.
Yiwu is a county-level city that is often dubbed "the world's supermarket" as it is home to the world's largest wholesale market for small commodities. The market has established business ties with 2 million small and medium-sized companies in China, as well as 233 countries and regions.
