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China's duty-free island shopping boom powers 142% profit surge

State-owned operator captures gains in Hainan from policy change

HONG KONG -- China's reembrace of travel has produced a clear corporate champion: the country's state-owned duty-free shop operator.

China Tourism Group Duty Free announced this week that net profits for the July-September quarter soared 142% from a year before to 2.23 billion yuan ($331.1 million) as revenues rose 39% to 15.83 billion yuan.

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