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China Duty Free Group reports profit growth in 2020 Xinhua | Updated: 2021-02-01 11:13 Share CLOSE Customers visit Global Premium Duty Free Plaza in Haikou, South China s Hainan province, on Jan 31, 2021. [Photo/Xinhua]
BEIJING China Duty Free Group Co Ltd (CDFG), a state-owned enterprise operating duty-free business, reported profit growth in 2020.
Its net profits attributable to shareholders grew 32.07 percent year-on-year to reach 6.12 billion yuan ($945.77 million) last year, according to a preliminary financial statement the company filed with the Shanghai Stock Exchange.
Operating revenue jumped by 8.24 percent year-on-year to 52.62 billion yuan during the period, the statement shows.
By the end of 2020, the company s total assets topped 41.97 billion yuan, up 31.89 percent from a year before.
China's better-than-expected economic growth in 2020 amid the pandemic, accompanied by multiple structural improvements in the economy, indicated the internal circulation－the domestic cycle of production, distribution, and consumption－has recovered to almost pre-pandemic levels.
2021-02-01 09:43 By: Xinhua
Customers visit Global Premium Duty Free Plaza in Haikou, south China s Hainan Province, Jan. 31, 2021. Two new offshore duty-free shops opened on Sunday in Haikou, capital of south China s island province of Hainan, raising the number of duty-free shops in the province to nine. (Xinhua/Guo Cheng)
HAIKOU, Jan. 31 (Xinhua) Two new offshore duty-free shops opened on Sunday in Haikou, capital of south China s island province of Hainan, raising the number of duty-free shops in the province to nine.
The nine shops, run by five entities, bring a pattern of differentiated competition to the duty-free market, which will be a great boost to the building of Hainan into an international tourism and consumption destination.
2021-01-31 20:33 By: Xinhua
HAIKOU, Jan. 31 (Xinhua) Two new offshore duty-free shops opened on Sunday in Haikou, capital of south China s island province of Hainan, raising the number of duty-free shops in the province to nine.
The Global Premium Duty Free Plaza, run by a local company, is located in a large shopping center in downtown Haikou. The products on sale include electronic products, perfumes, cosmetics, sunglasses and imported wine, among others.
The plaza launched its first phase on Sunday, with its second and third phases due by the end of June and September this year, respectively.
The other duty-free shop, run by a company based in the southern city of Shenzhen, offers nearly 500 international brands in a shopping area of 20,000 square meters.