China's Travel Retailers to Continue Rapid Development: CNTA

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 ◆ China's Travel Retailers to Continue Rapid Development: CNTA

China's travel industry will continue its powerful growth with great potential in the retail business, according to Chinese and overseas travel experts gathered here Friday at the China Travel Retail Summit 2002.

Jointly organized by the China Duty Free Group and China Power Duty Free Group, the summit has attracted over 200 figures from international travel retail circles and duty free groups, as well as up to 300 experts or executives from Chinese airports and duty free shops.
China National Tourism Administration (CNTA) vice-chairman Zhang Xiqin said at the opening ceremony that over the past 20 years, China had developed its travel retail industry with rich travel resources and become a big travel player in Asia.
He said China had achieved nearly double-digit growth in both foreign tourist arrivals and travel income in foreign exchange over the past 24 years, and the growth was continuing, providing a broad market for the development of travel retail and duty free
businesses.
China has more than 150 duty free shops in over 90 port cities and border regions, with an annual sales volume of over 200 million US dollars, and this year the figure is expected to reach 300 million dollars, ranking among the world's top 20.