Baiyun Airport invests in Guangzhou duty-free venture

Guangzhou Baiyun International Airport (SSE:600004) announced it will invest CNY 4.5 million to acquire a 10% stake in a new joint venture, China Duty Free (Guangzhou) Co., Ltd., focused on operating duty-free stores within Guangzhou. The partnership includes China Duty Free Group, Guangzhou Guangbai Co., Ltd., and Guangzhou Lingnan Group Holdings Co., Ltd. The new company will have a registered capital of CNY 45 million, with China Duty Free Group holding a 51% majority stake. The investment aims to capitalize on the growing duty-free market, enhance the airport's retail offerings, and boost overall profitability. The partnership will leverage the strengths of each partner in retail operations, marketing, and supply chain management, to create a competitive duty-free shopping experience.