Hainan's duty-free policy, effective since November 2025, lets both foreign visitors departing the island and Hainan residents buy duty-free goods, with a purchase cap of 100,000 yuan per year. In the first week of October, customs supervised 855 million yuan (about $128 million) of duty-free goods, covering around 123,000 purchases and 696,800 items. The cdf Tam Á mall, which has the world's second-largest sales floor area, is also a national 4A tourist attraction, the first in China centred on duty-free retail. CDFG, which operates the cdf stores, posted revenue of 27.59 billion yuan (about $4.07 billion) in the first half of 2026, across roughly 200 stores. The company plans to use Hainan as its core base before expanding to airports, city centres and international markets.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Bên trong 'vương quốc tiêu tiền' của Trung Quốc
Keywords
Open a keyword to see other news on the same topic.
Related news
- Tax loophole fears cloud UK marketplace VAT reform
The British Independent Retailers Association (Bira) warned that proposed exemptions for smaller sellers and second-hand goods in UK online marketplace VAT reforms could leave room for tax evasion. Bira backs extending platforms' responsibility for collecting VAT but says the final rules must stop non-compliant sellers from exploiting gaps; the warning came on 16 October, ahead of the 28 October UK Budget. The government's preferred option is a £90,000 sales threshold for each marketplace, the consultation closed on 18 August 2026, and no decision has been made yet. Bira cited £1bn in potential revenue linked to the plans, though this is not a confirmed government forecast, and warned that broad exemptions could reduce funding for business rates relief for pubs, restaurants and hotels.
- Sainsbury boss delivers tax warning to government ahead of Budget
Sainsbury’s chief executive Simon Roberts said the government appears to be listening to business after talks at No 11 Downing Street, and urged the chancellor to avoid significant increases to business taxes and labour costs in the autumn Budget next Wednesday. He also called for reform of the business rates system and measures to encourage hiring. For the 28 weeks to 12 September, total revenue rose 4.1% to £16.2 billion and grocery sales rose 2.9% to £13.2 billion, while fuel sales jumped 17.8% after the Iran war pushed up oil prices. Underlying operating profit was £525 million, up 3.6%, and the company said it is on track for full-year underlying operating profit of £1.025 billion to £1.065 billion, equivalent to £965 million to £1.065 billion due to the proposed sale of Argos.
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget, Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
- Do not repeat tax increases at Budget , Sainsbury boss urges Chancellor
Related markets
Latest news
- Sweden's central bank revives e-krona debate as stablecoins and digital euro loom
Sweden's central bank, the Riksbank, is calling on lawmakers to reconsider a digital krona, warning that foreign-currency stablecoins and a planned digital euro could erode the krona's role in payments. A 2023 government inquiry found too little need for an e-krona, but the Riksbank says changing payment habits and growing security risks may warrant a new review. Only 5% of Swedes used cash for their last purchase, and the bank warns the krona could struggle to compete without a usable digital form. The Riksbank has not taken a position on issuing one, but says legislation would take at least five years, so preparations should start now. It also sees an e-krona as a backup payment option during power or telecom outages, and the digital euro's infrastructure could be reused, with that digital currency potentially debuting in 2029 if EU lawmakers approve the rules.
- Bitcoin in 'Wait and See Mode'—And That Might Be a Good Thing
Bitcoin has not moved more than 6% over the past month, and none of the top five cryptocurrencies has moved more than 2% over the past seven days. Bitcoin is trading around $81,735, down 1.2% on the day, and the Crypto Fear and Greed Index sits at a neutral 47. Some analysts say the quiet market could be an early sign of a bull market, since similar low-volatility stretches have previously been followed by 30% price swings in either direction within a few months. Carlos Guzman of GSR, however, says the stall mainly reflects risk-off sentiment across global markets, making a significant breakout unlikely while it persists. Markets are waiting for the Federal Reserve's October 28 rate decision, an $11.69 billion Bitcoin options expiry on October 30, and the U.S. midterm elections on November 3.
- A bank stock hits its daily ceiling with no sellers left in the 23/10 session
On 23/10, 23 of 28 bank stocks rose. Sacombank's STB hit its daily ceiling, up 6.86% to VND 68,500 per share with no sellers left, making it the highest-priced bank stock; it was the fourth straight gain, with over 8.2 million shares matched. The move came as Sacombank deputy chairman Nguyễn Đức Thụy was nominated to run for chairman of the Vietnam Football Federation (VFF) for the 10th term. Other gainers included NVB (+5.84%), EIB (+5.31%), OCB (+4.35%) and ACB (+3.9%). Foreign investors were net buyers of TCB (VND 152 billion), CTG (VND 62 billion) and HDB (VND 55 billion), but net sellers of ACB (VND 469 billion), STB (VND 84 billion) and MBB (VND 54 billion).
- OpenAI slashes valuation by $150bn
OpenAI has cut its valuation by $150bn, from the $1.4tn it sought in talks with investors to $1.25tn after pushback, according to the Financial Times. The move reflects growing investor concern about the cost of sustaining the AI boom, coming after Meta said it needed to raise 'hundreds of billions of dollars' and more than $1tn was wiped off US tech stocks on Thursday. Japan's Nikkei 225 fell as much as 2.3% on Friday morning. OpenAI is seeking $30bn before a stock listing next year, and the $1.25tn valuation would still be 47% above the $852bn it was valued at when it secured a record $122bn in March. Anthropic is also preparing an IPO, but investors have discussed valuing it at about $1.5tn, down from the $2tn previously expected.
- If I Could Only Buy 1 AI Stock in November After This Sell-Off, It Would Be This One.
Last week, several AI stocks fell sharply: Oracle dropped about 9%, Super Micro Computer lost 23%, and Astera Labs (ALAB) fell over 15% despite having no borrowings and about $1.25 billion in cash and short-term investments. The author argues Astera was dragged down by concerns over data center spending, not by any change in its business. In October, the company launched Aries 7, a PCIe 7 signal-conditioning lineup, and Orion, a rack-scale reference design that lets cloud providers swap GPUs or CPUs without redesigning the rack, with what the company calls significantly lower upfront capex. The article cites risks including a high trailing earnings multiple, the chairman's sale of $51 million of shares in September, and reliance on a short list of hyperscale customers. Astera reports third-quarter results on Nov. 3, and the author says they would buy in November and hold through the next product cycle.
- HSBC launches Hong Kong dollar stablecoin for retail payments
HSBC has launched RedCoin (RCHKD), its first Hong Kong dollar stablecoin, for transfers and merchant payments through its PayMe app, redeemable one-for-one for Hong Kong dollars. More than 3.3 million PayMe users will be able to activate stablecoin wallets in the coming days, with HSBC Digital Assets Custody providing safekeeping. The consumer rollout follows Anchorpoint's HKDAP stablecoin launch for institutions and professional investors via HashKey Exchange in August, after HSBC and Anchorpoint Financial (a joint venture backed by Standard Chartered, Animoca Brands and HKT) both received issuer licenses in April as the first companies approved under Hong Kong's framework. HSBC plans to add RedCoin wallets to its HSBC HK Mobile Banking App later this year for tokenized investment products, including a new share class of its Hong Kong dollar money market fund, and to expand RedCoin into wholesale corporate and institutional uses.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.