China Tourism Group Duty Free Corporation Limited

China Tourism Group Duty Free Corporation Limited (CTG Duty Free) is the main company of China Travel Group’s tourism retail business group and a large-scale joint-stock tourism retailer. Established in 1984, CTG Duty Free is a state-owned franchise company authorized by the State Council to carry out nationwide duty-free business. It engages in duty-free travel retail business in China, the wholesale and retail of duty-free commodities, such as tobacco and wine, perfume, cosmetics, accessories, clothing, and electronic products. It is also involved in commercial complex investment and development business. The company was formerly known as China International Travel Service Corporation Limited and changed its name to China Tourism Group Duty Free Corporation Limited in June 2020. It has established long-term and stable cooperative relations with more than 1,000 world-renowned brands and operates over 200 retail stores in various locations. CTG Duty Free Investment Development Co., Ltd., a wholly-owned subsidiary, focuses on overseas investment and operation of CTG Duty Free tourist retail complexes, with tax-free commerce as its core.