Jan 17, 2023 04:51 PM

BUSINESS

Shanghai Airport Operator Buys $251 Million Stake in Duty-Free Shops

By Guo Yingzhe and Zhao Dan

What’s new: The operator of Shanghai’s two major airports has announced that it will invest 1.7 billion yuan ($251 million) in two firms that operate online and offline duty-free shops.

Shanghai International Airport Co. Ltd. (600009.SH), the listed platform of parent company Shanghai Airport Group, announced Friday that it will fund 1.4 billion yuan and the rest will come from the investment arm of the Group — Shanghai Airport Investment Co. Ltd.

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