The island’s investor-friendly policies, high duty-free allowance and infrastructure upgrades attract brands and tourists.

Hainan's duty-free shopping venues drew a record 85,800 tourists during this year’s May Day holiday, generating $75.6 million in tax-free sales.

Although it tanked elsewhere, China’s travel retail market benefited from the relaxation of duty-free limits and the country’s luxury appetite.

With several districts in Shenzhen announcing plans to delve into duty-free shopping, could the tech powerhouse become China’s next luxury paradise?

Investment bank Morgan Stanley notes that China’s duty-free market will bring disruption to the global luxury retail landscape.