Leica

Leica

HAIKOU, CHINA - DECEMBER 23, 2025 - A Leica store in cdf Haikou International Duty-Free City, the world's largest single duty-free store, Haikou City, Hainan Province, China on December 23, 2025.

Duty-free Gold

Duty-free Gold

HAIKOU, CHINA - DECEMBER 23, 2025 - Customers purchase "duty-free gold" at a Lao Miao Jewelry store in cdf Haikou International Duty-Free City, the world's largest single duty-free store. Haikou City, Hainan Province, China on December 23, 2025.

Duty-free Gold

Duty-free Gold

HAIKOU, CHINA - DECEMBER 23, 2025 - Customers purchase "duty-free gold" at a Lao Miao Jewelry store in cdf Haikou International Duty-Free City, the world's largest single duty-free store. Haikou City, Hainan Province, China on December 23, 2025.

Duty-free Gold

Duty-free Gold

HAIKOU, CHINA - DECEMBER 23, 2025 - "Duty-free Gold" at a Lao Miao Jewelry store in cdf Haikou International Duty-Free City, the world's largest single duty-free store, Haikou City, Hainan Province, China on December 23, 2025.

Duty-free Gold

Duty-free Gold

HAIKOU, CHINA - DECEMBER 23, 2025 - Customers purchase "duty-free gold" at a Lao Miao Jewelry store in cdf Haikou International Duty-Free City, the world's largest single duty-free store. Haikou City, Hainan Province, China on December 23, 2025.

Duty-free Gold

Duty-free Gold

HAIKOU, CHINA - DECEMBER 23, 2025 - "Duty-free Gold" at a Lao Miao Jewelry store in cdf Haikou International Duty-Free City, the world's largest single duty-free store, Haikou City, Hainan Province, China on December 23, 2025.

Leica

Leica

HAIKOU, CHINA - DECEMBER 23, 2025 - A Leica store in cdf Haikou International Duty-Free City, the world's largest single duty-free store, Haikou City, Hainan Province, China on December 23, 2025.

Leica

Leica

HAIKOU, CHINA - DECEMBER 23, 2025 - A camera on display at a Leica store in cdf Haikou International Duty-Free City, the world's largest single duty-free store. Haikou City, Hainan Province, China on December 23, 2025.

Leica

Leica

HAIKOU, CHINA - DECEMBER 23, 2025 - A Leica store in cdf Haikou International Duty-Free City, the world's largest single duty-free store, Haikou City, Hainan Province, China on December 23, 2025.

Illustration CDF

Illustration CDF

SUQIAN, CHINA - DECEMBER 24, 2024 - Illustration China Duty Free Group (CDF) on a mobile phone in Suqian, Jiangsu province, China, December 24, 2024.

Illustration CDF

Illustration CDF

SUQIAN, CHINA - DECEMBER 24, 2024 - Illustration China Duty Free Group (CDF) on a mobile phone in Suqian, Jiangsu province, China, December 24, 2024.

Illustration CDF

Illustration CDF

SUQIAN, CHINA - DECEMBER 24, 2024 - Illustration China Duty Free Group (CDF) on a mobile phone in Suqian, Jiangsu province, China, December 24, 2024.

Illustration CDF

Illustration CDF

SUQIAN, CHINA - DECEMBER 24, 2024 - Illustration China Duty Free Group (CDF) on a mobile phone in Suqian, Jiangsu province, China, December 24, 2024.

Illustration CDF

Illustration CDF

SUQIAN, CHINA - DECEMBER 24, 2024 - Illustration China Duty Free Group (CDF) on a mobile phone in Suqian, Jiangsu province, China, December 24, 2024.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at a CHANEL store at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at a DIOR store at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at a LANCOME store at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at a TISSOT store at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

2023H1 Hainan Islands Duty-free Shops Sales Growth

2023H1 Hainan Islands Duty-free Shops Sales Growth

SANYA, CHINA - AUGUST 28, 2023 - Tourists shop for goods at China Duty Free Group's (CDF) Sanya International Duty Free City in Sanya, Hainan Province, China, Aug 28, 2023. In the first half of 2023, the total sales of duty-free shops on Hainan's outlying islands reached 32.396 billion yuan, an increase of 31% year-on-year.

Shanghai Airport

Shanghai Airport

SHANGHAI, CHINA - MAY 8, 2023 - Photo taken on May 8, 2023 shows the Shanghai Airport stand during an exhibition in Shanghai, China. Affected by rumors in the market that Shanghai Airport has re signed an agreement with China Duty Free Group (CDF) and lowered the airport's penalty ratio, the A-share price of Shanghai Airport hit the limit in the morning trading.

Shanghai Airport

Shanghai Airport

SHANGHAI, CHINA - MAY 8, 2023 - Photo taken on May 8, 2023 shows the Shanghai Airport stand during an exhibition in Shanghai, China. Affected by rumors in the market that Shanghai Airport has re signed an agreement with China Duty Free Group (CDF) and lowered the airport's penalty ratio, the A-share price of Shanghai Airport hit the limit in the morning trading.

Shanghai Airport

Shanghai Airport

SHANGHAI, CHINA - MAY 8, 2023 - Photo taken on May 8, 2023 shows the Shanghai Airport stand during an exhibition in Shanghai, China. Affected by rumors in the market that Shanghai Airport has re signed an agreement with China Duty Free Group (CDF) and lowered the airport's penalty ratio, the A-share price of Shanghai Airport hit the limit in the morning trading.

Shanghai Airport

Shanghai Airport

SHANGHAI, CHINA - MAY 8, 2023 - Photo taken on May 8, 2023 shows the Shanghai Airport stand during an exhibition in Shanghai, China. Affected by rumors in the market that Shanghai Airport has re signed an agreement with China Duty Free Group (CDF) and lowered the airport's penalty ratio, the A-share price of Shanghai Airport hit the limit in the morning trading.

Xinhua Headlines: What Chinese modernization means for multinationals eyeing new opportunities in China?

Xinhua Headlines: What Chinese modernization means for multinationals eyeing new opportunities in China?

(230327) -- BEIJING, March 27, 2023 (Xinhua) -- Delegates attend a parallel session of the Economic Summit of the China Development Forum (CDF) 2023 at a branch venue in Beijing, capital of China, March 25, 2023. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM 2023-OPENING (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM 2023-OPENING (CN)

(230326) -- BEIJING, March 26, 2023 (Xinhua) -- Participants attend the China Development Forum (CDF) 2023 in Beijing, capital of China, March 26, 2023. The CDF 2023, themed "Economic Recovery: Opportunities and Cooperation," opened in Beijing on Sunday. It is hosted by the Development Research Center of the State Council. Experts, entrepreneurs, government officials and representatives of international organizations from all around the world attended the opening ceremony. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM 2023-OPENING (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM 2023-OPENING (CN)

(230326) -- BEIJING, March 26, 2023 (Xinhua) -- This photo shows the opening ceremony of the China Development Forum (CDF) 2023 in Beijing, capital of China, March 26, 2023. The CDF 2023, themed "Economic Recovery: Opportunities and Cooperation," opened in Beijing on Sunday. It is hosted by the Development Research Center of the State Council. Experts, entrepreneurs, government officials and representatives of international organizations from all around the world attended the opening ceremony. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

(230325) -- BEIJING, March 25, 2023 (Xinhua) -- Delegates attend a parallel session of the Economic Summit of the China Development Forum (CDF) 2023 at a branch venue in Beijing, capital of China, March 25, 2023. The Economic Summit of the CDF 2023 was held here on Saturday. Themed "Economic Recovery: Opportunities and Cooperation," the CDF 2023 takes place offline at the Diaoyutai State Guesthouse in Beijing from March 25 to 27. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

(230325) -- BEIJING, March 25, 2023 (Xinhua) -- Delegates attend a parallel session of the Economic Summit of the China Development Forum (CDF) 2023 at a branch venue in Beijing, capital of China, March 25, 2023. The Economic Summit of the CDF 2023 was held here on Saturday. Themed "Economic Recovery: Opportunities and Cooperation," the CDF 2023 takes place offline at the Diaoyutai State Guesthouse in Beijing from March 25 to 27. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

(230325) -- BEIJING, March 25, 2023 (Xinhua) -- Delegates attend the Economic Summit of the China Development Forum (CDF) 2023 in Beijing, capital of China, March 25, 2023. The Economic Summit of the CDF 2023 was held here on Saturday. Themed "Economic Recovery: Opportunities and Cooperation," the CDF 2023 takes place offline at the Diaoyutai State Guesthouse in Beijing from March 25 to 27. (Xinhua/Li Xin)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

CHINA-BEIJING-CHINA DEVELOPMENT FORUM-ECONOMIC SUMMIT (CN)

(230325) -- BEIJING, March 25, 2023 (Xinhua) -- This photo taken on March 25, 2023 shows a view of the main venue of the Economic Summit of the China Development Forum (CDF) 2023 in Beijing, capital of China. The Economic Summit of the CDF 2023 was held here on Saturday. Themed "Economic Recovery: Opportunities and Cooperation," the CDF 2023 takes place offline at the Diaoyutai State Guesthouse in Beijing from March 25 to 27. (Xinhua/Li Xin)