(Picture source: Panoramic picture)
Economic Observer Network Reporter Tonglinge "China Duty Free Hainan Headquarters will divert part of the business of the Beijing Headquarters to cooperate with the CITS headquarters to move to Hainan." A senior executive of China Duty Free Group told reporters. The reporter learned from the Haikou Comprehensive Free Trade Zone Investment Promotion Office that the operations headquarters of China Duty Free Group (Hainan), which was registered in May this year, has not yet moved in materials and personnel for operation.
The person in charge of China Duty Free Strategy Department told reporters that the China Duty Free headquarters in Beijing will still be retained. There will be two headquarters in Hainan and Beijing, responsible for the management of duty free shops across the country within the China Duty Free System. On August 30, China National Travel Service announced that it would transfer the equity interests in 83 wholly-owned or controlled subsidiaries held by its wholly-owned subsidiary China Duty Free Corporation to China Duty Free Hainan Company, a wholly-owned subsidiary established by China Duty Free Corporation in Hainan.
html On September 12, reporters also confirmed from CITS insiders that the domestic headquarters of China Tourism Group has officially moved from Beijing to Haikou, with a registered capital of 15.8 billion yuan. Industrial and commercial registration information shows that the registration authority of China International Travel Service has been changed to "Hainan Provincial Administration for Industry and Commerce", with its headquarters located in the Hainan Cross-Border E-commerce Industrial Park in Haikou Comprehensive Bonded Zone. Prior to this, the headquarters of China Tourism Group Co., Ltd. was registered in Xicheng District, Beijing, and was 100% controlled by the State-owned Assets Supervision and Administration Commission of the State Council.It is reported that in early July this year, China International Travel Service signed a strategic cooperation agreement with the Hainan Provincial Government. Ni Jian, director of the State-owned Assets Supervision and Administration Commission of Hainan Province, once publicly introduced that unlike the previous bottom-up approach, this round of strategic cooperation has established a top-level cooperation framework between the provincial government and the headquarters of central enterprises from the beginning, and cities, counties and enterprises affiliated to central enterprises are responsible for the specific implementation of strategic cooperation content. .
China International Travel Service’s semi-annual report shows that the company achieved revenue of 21 billion yuan in the first half of the year, a year-on-year increase of 67.77%; net profit attributable to shareholders of listed companies was 1.919 billion yuan, a year-on-year increase of 47.6%. Revenue growth mainly came from the contribution of duty-free business. During the reporting period, duty-free merchandise sales business revenue reached 14.947 billion yuan, a year-on-year increase of 126.31%.
China National Travel Service’s 2017 financial report shows that as the core business of China National Travel Service, China Duty Free contributed nearly half of the revenue and most of the profits to China National Travel Service.
As early as February 11, 2017, China Duty Free Group and Sunshine China will officially operate the duty-free business of Capital Airport T2 and T3.
In addition to the duty-free business operation rights of Capital Airport, in October 2017, Guangzhou Baiyun International Airport Co., Ltd. (hereinafter referred to as "Guangzhou Baiyun Airport") signed an agreement with China Duty Free Group to open an outbound duty-free shop in Terminal 2 of Guangzhou Baiyun Airport. With the operation cooperation agreement, China Duty Free Group has won the duty-free business of Baiyun Airport.
html On September 7, China International Travel Service announced that its holding subsidiary company Rishang Shanghai signed the transfer of operating rights for the two major airport duty-free shop projects in Shanghai Hongqiao and Shanghai Pudong with Shanghai Airport (Group) Co., Ltd. and Shanghai International Airport Co., Ltd. respectively. contract. At present, China International Travel Service has fully deployed the duty-free shop business at the airports in Beijing, Shanghai and Hong Kong, as well as the duty-free shopping mall in Hainan Island Haitang Bay.
