News Snapshot:
In 2018, Chinese tourists spent $110 billion on their travels — nearly 40 percent in duty-free purchases. The pandemic may have decimated this market and removed one of its most lucrative customers, but inside China, the duty-free sector is flourishing on the back of a domestic travel rebound and targeted government policies. And China Tourism Group Duty Free is looking to capitalize. What happened? China Tourism Group Duty Free (CTGDF) is planning a secondary listing on the Hong Kong Stock Exchange and hopes to raise $7 to 10 billion. What is China Tourism Group Duty Free? A state-owned enterprise that...
