On October 13, Feng Fei, Secretary of the CPC Hainan Provincial Committee, met with a delegation led by William Lauder, Executive Chairman and Chairman of the Board of Directors of the Estée Lauder Companies, in Haikou.

Feng Fei welcomed the visit of William Lauder and his delegation and expressed gratitude for the high attention Estée Lauder Companies has shown to Hainan’s offshore duty-free shopping market.

He introduced that Hainan is currently accelerating the development of a free trade port with global influence and Chinese characteristics. The policy framework for the free trade port is taking shape with a focus on “zero tariffs, low tax rates, and a simplified tax system” and “liberalization and facilitation in five sectors and the safe and orderly flow of data”. Hainan is actively attracting high-quality global resources to participate in its development and aims to become a key intersection hub for China’s domestic and international circulations.

He also mentioned that Estée Lauder Companies’ brands hold significant market share in Hainan’s offshore duty-free consumer market. Hainan looks forward to seeing the company expand its presence and business layout in Hainan, actively participate in Hainan’s construction of an international tourism and consumption center, and deepen its cooperation with Hainan in tourism retail, biopharmaceuticals, philanthropy and other fields to share development opportunities.

William Lauder expressed his appreciation for the support and assistance provided by Hainan to Estée Lauder Companies’ development in Hainan over the years. He expressed his confidence and expectations for the Hainan market, hoping for higher quality cooperation in areas such as duty-free shopping, talent development, low-carbon environmental protection, and philanthropy.

Ni Qiang, Vice Governor of Hainan Province, also attended the meeting.