As per reports, Chinese state-owned operator of duty-free stores, China Tourism Group (CTG) Duty Free has surpassed Switzerland-based Dufry Group, in sales for the first half of the year. S&P Global Ratings has also upgraded its outlook for China Tourism Group Corp, CTG Duty Free's parent company, to stable from negative, affirming its single A-minus rating. CTG Duty Free, which controls China's travel shopping sector, posted first-half revenue of $2.824 billion. The company enjoys the benefits of Beijing's continued push to transform the southern island province of Hainan into a duty-free zone.

The new phase of international duty-free shopping complex in Sanya, the central city of the tropical island's resort area, opened doors in January and has since turned into a major revenue booster after weathering a difficult period during the first few months of the outbreak. The four duty-free outlets on the island - monopolized by CTG Duty Free - recorded sales of nearly 6 billion yuan from July 1 to August 26. This is 2.5 times more than the same period a year earlier, and averaging to more than 100 million yuan a day.