Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. China Tourism Group Duty Free Corporation Limited
  6. News
  7. Summary
    601888   CNE100000G29

CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED

(601888)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China Tourism Duty Free : Shanghai encourages 'duty-free economy' as part of consumer push

09/17/2021 | 11:37pm EDT
People visit main shopping area in Shanghai

BEIJING (Reuters) - The Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls and other commercial venues, municipal authorities said.

The development of a "duty-free economy", which will encourage spending on imported products, including heavily-taxed luxury goods, was outlined in a 2021-2025 consumption plan released on Saturday.

Presently, duty-free spending in China is largely concentrated in the southern island province of Hainan, where the annual limit on individual duty-free spending was hiked to 100,000 yuan ($15,467) last year from 30,000 yuan previously.

Tariffs on imported consumer goods vary in China, with taxes on some luxury items such as perfumes and watches exceeding 30%.

Lured by the substantially lower prices, millions of domestic tourists flock to Hainan's malls each year, and the numbers have been boosted by restrictions on overseas travel resulting from the COVID-19 pandemic.

Otherwise, there are more than 300 duty-free shops across the country selling products from fragrances and cosmetics to clothing and shoes. China Tourism Group Duty Free Corp is the dominant player, with nearly 200 stores.

Annual duty-free spending is in the tens of billions of yuan.

($1 = 6.4655 Chinese yuan renminbi)

(Reporting by Ryan Woo; Editing by Simon Cameron-Moore)


© Reuters 2021
All news about CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED
09/17CHINA TOURISM DUTY FREE : Shanghai encourages 'duty-free economy' as part of consumer push
RE
08/03MARKET CHATTER : JL Mag Rare-Earth Files for $200 Million Hong Kong IPO; Shares Jump 3%
MT
08/03MARKET CHATTER : Chinese AI Startup 4Paradigm Awaiting Greenlight for $600 Million Hong Ko..
MT
07/12CHINA TOURISM DUTY FREE : Duty Free Group Forecasts 484% Profit Surge in H1; Shares Jump 6..
MT
07/05China Tourism Group Duty Free Corporation Limited Reports Earnings Results for the Half..
CI
06/28China Tourism Reportedly Aims for $7b Hong Kong Listing
CI
06/27MARKET CHATTER : China Tourism Group Duty Free Seeking Up to $7 Billion in Hong Kong IPO; ..
MT
06/27CHINA TOURISM DUTY FREE : Files for Hong Kong IPO
MT
06/22MARKET CHATTER : China Tourism Group to File for Hong Kong IPO This Week
MT
06/08MARKET CHATTER : China Tourism Group Eyes Secondary Listing in Hong Kong to Raise $10 Bill..
MT
More news
Financials
Sales 2021 77 697 M 12 171 M 12 171 M
Net income 2021 10 923 M 1 711 M 1 711 M
Net cash 2021 21 097 M 3 305 M 3 305 M
P/E ratio 2021 47,7x
Yield 2021 0,65%
Capitalization 525 B 82 262 M 82 272 M
EV / Sales 2021 6,49x
EV / Sales 2022 4,59x
Nbr of Employees 14 217
Free-Float 43,7%
Chart CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED
Duration : Period :
China Tourism Group Duty Free Corporation Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 269,00 CNY
Average target price 345,71 CNY
Spread / Average Target 28,5%
EPS Revisions
Managers and Directors
Guo Qiang Chen General Manager & Executive Director
Wen Long Chen Chief Financial Officer
Hui Peng Chairman
De Fu Liu Chairman-Supervisory Board
Yan Liu Independent Non-Executive Director