CHINA. China International Travel Service Group (CITS), which owns China Duty Free Group Corporation, is planning to list some its key assets on the stock market this year, according to a report in China’s 21st Century Business Herald. It raises the possibility that Chinese investors could soon be able to purchase shares in the country’s largest duty free business.
The report, which quoted CITS Vice President Chen Rong, said the company was keen to list some of its key assets on the A-shares market before the Beijing Olympics in August. A-shares are denominated in Chinese Yuan, and are issued only by Mainland Chinese companies for Chinese investors.
The report said the company plans to pursue the strategy of listing key assets because it has come under threat from the proposed merger of its main rivals China Travel Service (Holdings) Hong Kong Limited and China Travel Service Group.
CITS businesses include travel agencies, retail, real estate and property management.
As previously reported, China Duty Free Group Corporation will host its 24th China Duty Free Annual Conference at Shangri-La Hotel, Wuhan, on 23-27 January. Government officials, leadership and staff representatives from China Duty Free Group Corporation and representatives from 150 duty free shops will attend the in-house conference, where they will discuss the opportunities arising out of the forthcoming Olympic Games.
FOOTNOTE: 2008 is shaping up as a big year for China’s travel retail sector. After the China Duty Free Group event in January, the annual ACI Airport Business & Trinity Forum will be held in Shanghai on 31 March to 2 April. A joint venture between The Moodie Report and Airports Council International, it has attracted one of the most powerful and diverse speaking line-ups ever seen at an airport commercial revenues conference.
And the 1st China Airport Retail Expo will be held on 27-29 November, also in Shanghai.
MORE STORIES ON CHINA DUTY FREE GROUP
China Duty Free Group set to discuss Olympics preparations at major in-house conference – 13/01/08
China Duty Free Group signs key retail deal with Guangzhou New Baiyun International – 18/10/07
China Duty Free Group aims for US$62.5 million in Olympics souvenir sales by 2008 – 20/07/06
