Hainan to raise duty-free shopping quota

China's Hainan province will increase its annual tax-free shopping quota for travelers, according to the Ministry of Finance (MOF) Wednesday.

Effective on Saturday, the quota will be raised to 30,000 yuan (about $4,300) per year from the current 16,000 yuan, without limit on the number of purchases, said a joint statement from the MOF and China's customs and taxation authorities.

Some home medical devices will be added to the duty-free list, including hearing aids and breathing machines.

The duty-free shopping policy was implemented in April 2011 and has been improved since with broader coverage and fewer restrictions.

Duty-free sales in Hainan jumped 24.1 percent year-on-year in the first half of the year, to 5.29 billion yuan.