Sanya encourages development of 'first store' economy

A bevy of detailed regulations that promote the development of Sanya's "first store, product debut, and product exhibition" economy has recently come into effect and will last until Dec 31, 2025.

These regulations aim to encourage renowned domestic and international brands to launch new products into Sanya's market. They also encompass the introduction and cultivation of high-quality commercial brands, and several incentives that have a maximum reward of 3 million yuan ($421,741).

Renowned domestic and international brands will be steered to organize product debut and exhibition events in Sanya. This will attract more brands to establish their first stores in the city.

 
For product debuts that generate expenses, such as venue rental and exhibition booth construction, totaling more than 500,000 yuan, the city will offer a reward of up to 50 percent of the total cost. This reward has a maximum amount of 1 million yuan.

Support will also be given to renowned domestic and international brands that open their flagship stores in Hainan, or their first store in South China, China, or Asia.

 
For the first stores or flagship stores that have decor expenses totaling more than 1 million yuan, a reward of 30 percent of the actual cost will be rewarded back.

 
In addition, Sanya will give support and incentives to local enterprises that apply be gain respected industry titles, such as China time-honored catering establishments, Michelin-star restaurants, and Black Pearl restaurants.