Development Milestones

1979

A duty free department (the predecessor of CDFG) was

approvedand authorized by the State Council to be established,

under China TravelService Company. This department began to

conduct duty free businessnationwide.

China’s first duty free store was opened.

1984

China Duty FreeCompany was formally established with the

approval from the State Council.

1989

A branch was set up inHong Kong for the procurement and

distribution of duty free goods overseas.

1990

Beijing Downtown DutyFree Store, the first downtown duty free

store in China, was opened. Wu Xueqian,Vice Premier of the State Council, Dai Jie, Director-General of the GeneralAdministration of Customs and He Guangwei, Director of the National

TourismAdministration, paid a visit to the store for inspection.

1996

CDFG started toexpand its retail channels and established CDFG

Heihe Duty Free Store, thefirst border duty free store in Asia.

1997

By introducing Chineseproducts into duty free stores, China’s

duty free stores became the bestplatform to showcase the

choicest Chinese products to tourists from all over theworld.

1999

China Duty Free Group was founded as a consortium of 103

enterprise legal persons.

China Duty Free Company was renamed China Duty FreeGroup

Corporation.

Qian Qichen, Vice Premierof the State Council, visited CDFG's

Dongning Border Duty Free Store inHeilongjiang province.

2001 Shanghai DowntownDuty Free Store was opened.
2002

China Travel Retail Summit hosted by CDFG was held inthe Great Hall of the

People, marking the first large-scale international conference in China’s

travel retail industry.

Wan Guoquan, ViceChairman of the National People's Congress,

inspected the Shanghai DowntownDuty Free Store.

2003

CDFG became one ofthe first franchised retailers for 2008 Olympic products with authorization of theBeijing Organizing Committee for the Olympic Games (BOCOG).

2004

With approval fromthe State Council and the State-owned Assets Supervision and AdministrationCommission (SASAC), CDFG and

China International Travel Service (CITS) Limited,carried out

strategic reorganization and jointly established CITS Group

Corporation.

2005

Four logisticscenters under the supervision of the Customs in Shenzhen, Shanghai,Qingdao,and Dalian formed a nationwide

distribution system for duty free goods.

2006

CDFG established a salesterminal overseas for the first time,

marking a breakthrough in the overseasmarkets.

2007

China Duty Free GroupCorporation was restructured and renamed China Duty Free Group Co., Ltd.

2009

CDFG was cited as anexcellent central enterprise by the State-owned Assets Supervision andAdministration Commission and the Ministry of Human Resources and SocialSecurity.

CDFG ranked among theTop 500 Service Enterprises in China for

the fourth consecutive year, and wasselected as a Best Human

Resources Enterprise Model in 2009.

China InternationalTravel Service Co., Ltd., including all of CDFG's business and assets, was successfullylisted on the Shanghai Stock Exchange.

2010

On April 20th,Hainan offisland duty-free policy was officially

implemented, and the CDFGSanya Duty Free Store was officially

opened to offisland travelersand become the first duty free store to practice offisland duty-free shoppingpolicy in China.

2012

The Haitang Bay International Shopping Complex project officially launched. It will be the largestduty free shopping mall in the world.