HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) surged more than 9%, Guangzhou's first downtown duty-free store opened today, and duty-free stores in many cities have entered the development stage.

China Tourism Group Duty Free Corporation (01880) surged by more than 9%, closing at a 7.26% increase to 67.25 Hong Kong dollars, with a turnover of 327 million Hong Kong dollars. On the news front, China Duty Free Group announced that the first downtown duty-free shop in Guangzhou will open on August 26th. It is jointly created by China Duty Free Group, Guangzhou Grandbuy, Guangzhou Lingnan Group Holdings, and Guangzhou Baiyun International Airport. Earlier on August 23rd, the downtown duty-free shop in Shenzhen successfully welcomed its first transaction during the trial operation period. Mr. Bai, a customer, completed his shopping settlement in the duty-free liquor area in the shop in the morning and will depart to Dubai from Shenzhen Airport next Monday, becoming the first customer in the trial operation phase of the duty-free shop. This also marks the achievement of a phased result in the project construction and operation. China Securities Co., Ltd. pointed out that overall duty-free sales and Hainan duty-free sales in the first quarter of 25 years declined, and the second quarter is still somewhat affected. The Hainan channel gradually turned positive in the second quarter. Duty-free shops in various cities are entering the stage of nurturing. With the tariff policy, the price advantage of some goods in the duty-free channel is expected to expand, and it is expected that downtown duty-free shops will better serve the sales of domestic goods in the future departure scenarios for foreigners. With the close of Hainan expected later this year, the independence of the island's duty-free policy is expected to be maintained, and it is expected to benefit from the consumption-boosting policy after the closure.