HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) rose more than 4% in the afternoon. Three departments adjusted the policy of duty-free shopping for tourists in Hainan Island.

China Tourism Group Duty Free Corporation (01880) rose more than 4% in the afternoon, up 4.1% to HK$63.5 as of the time of writing, with a turnover of HK$276 million. On the news front, in order to further expand the policy effects and support the construction of the Hainan Free Trade Port, on October 17, the Ministry of Finance, General Administration of Customs, and State Administration of Taxation jointly issued a notice to adjust the tax-free shopping policy for outbound passengers from Hainan, which will be implemented from November 1. The adjusted policy includes expanding the range of tax-free goods, with the optimized tax-free goods increasing from 45 categories to 47 categories. The policy adjustment will be favorable in expanding the coverage of the tax-free policy, increasing the supply of goods, improving the shopping experience for consumers, enhancing the residents' sense of gain, and continuously achieving new results in the construction of the Hainan Free Trade Port. Caitong pointed out that the company is a leading player in the domestic tax-free industry and continues to deepen operational capabilities. The bank believes that with the gradual improvement of the tax-free holiday data in Hainan and the good recovery of inbound and outbound data, the company's tax-free and duty-free at ports is expected to reach a turning point. At the same time, the company is actively promoting the city's tax-free business to create a second growth curve.