CITS granted duty-free concession at Beijing Capital Airport

CITS granted duty-free concession at Beijing Capital Airport

CITS’ fully-owned subsidiary China Duty Free has won the duty-free concession at Beijing Capital Airport (Terminal 2), according to the announcement on July 4. Sunrise Duty Free, Shanghai-based duty-free operator, also stood out in the game and won the concession at Terminal 3.

The bid of eight-year duty free operation at Beijing Capital Airport started in April.China Duty Free had signed a contract of purchasing a 51% stackin Sunrise Duty Free if the latter wins the concession at the Beijing airport. Therefore, two giants started their corporate adventure, and also created a competition pattern in duty-free industry.

Based on the CITS annual report of 2016, China Duty Free contributed more than 90% in net profit of CITS that attributed to the shareholders of listed company.