CHINA. China Duty Free Group (CDFG) has partnered with Guangzhou GrandBuy Company, Guangzhou Lingnan Group and Guangzhou Baiyun International Airport Company to jointly invest in a new downtown duty-free store in Guangzhou, CDFG has confirmed to The Moodie Davitt Report.
Under the agreement, first reported by Gangzhou Daily, the four state-owned companies will establish a joint venture to develop and operate the store, with CDFG holding a 51% majority stake.
The store will be located on the first floor of the Guangzhou International Finance Center in the downtown Tianhe district, offering a range of products across key categories, including wines & spirits, tobacco and food.
The initiative aligns with the Chinese government’s updated regulations on pre-departure downtown duty-free shopping, which took effect on 1 October 2024.
The new policy mandates that eight cities, including Guangzhou, Chengdu, Shenzhen, Tianjin, Wuhan, Xi’an, Changsha and Fuzhou, shall each have one downtown duty-free shop. The measures are designed to transform China’s travel retail landscape and boost inbound tourist consumption, as well as overseas expenditure outflows. ✈
