HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) rises more than 4% in August, as the tax reduction for offshore duty-free shopping in Hainan narrows. Measures to expand service consumption policy implemented.

China Tourism Group Duty Free Corporation (01880) rose more than 4%, up 4.5% as of the time of writing, with a price of 65.05 Hong Kong dollars and a turnover of 2.59 billion Hong Kong dollars. On the news front, data from Haikou Customs showed that from January to August 2025, Haikou Customs supervised a total of 20.43 billion yuan in duty-free sales on Hainan's outlying islands, with 3.148 million duty-free shoppers and 18.671 million duty-free items sold. In August, the duty-free sales on Hainan's outlying islands were about 2.105 billion yuan, a decrease of 4.2% year-on-year, but the decrease narrowed month-on-month. Industrial believes that looking ahead to the whole year, with the gradual decrease in the same period last year's base, and with the government and companies stepping up efforts, the sales pressure on Hainan is expected to ease. At the same time, the continuous restoration of duty-free stores at ports, the opening up of new channels for stores at ports and in the city, the company's fundamentals may be about to turn around. On September 16, the Ministry of Commerce and 9 other departments released a document titled "Several Policy Measures for Expanding Service Consumption," proposing nineteen measures in five aspects, including launching a series of consumer promotion activities during the "service consumption season." On September 17, the State Council Information Office held a press conference to introduce policies and measures related to expanding service consumption. Deputy Minister of Commerce Sheng Qiuping introduced that by the end of August, the number of duty-free stores for outbound tax refunds nationwide had exceeded 10,000, which is three times the number by the end of 2024; from January to August, the number of people enjoying outbound tax refunds increased by 248% year-on-year, and the tax refund sales increased by 98%.