China Tourism operates the world’s biggest duty-free shopping complex in Sanya. Photo: Xinhua
China Tourism operates the world’s biggest duty-free shopping complex in Sanya. Photo: Xinhua

China’s lockdown hits top duty-free retailer for US$2.7 billion as stock slides in Shanghai, hurts Hong Kong IPO appeal

  • China Tourism Group Duty Free lost US$2.7 billion in market value after stock slid 4.7 per cent in Shanghai, with Hong Kong IPO plan still in progress
  • The lockdown imposed on the popular beach resort of Sanya is bound to affect the group’s impending IPO in Hong Kong, says a fund manager

China Tourism operates the world’s biggest duty-free shopping complex in Sanya. Photo: Xinhua
China Tourism operates the world’s biggest duty-free shopping complex in Sanya. Photo: Xinhua
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