Qing Hong Liao

China Duty Free Group Co., Ltd. is a state-owned enterprise authorized by the State Council to operate duty-free business across the country. The company is based in Beijing, China and ultimately controlled by the Government of China. With a vast network of retail locations in airports, cruise terminals, and downtown stores, CDFG is dedicated to providing travelers and consumers with a world-class shopping experience, offering a diverse range of high-quality products and services. Founded in 1984, the Chinese company has established long-term relationships with nearly 1,000 brands and has over 240 duty-free stores in more than 30 provinces, municipalities, and autonomous regions.

Part of Lotte Shopping Co., Ltd., CTA Makro Commercial Co. Ltd. operates supermarkets in Beijing, CN. CTA Makro Commercial Co. was acquired by Lotte Shopping Co., Ltd. on January 25, 2008 for $88.53 million.

Sancai Holding Group Ltd. operates as a holding company with interests in providing financial and offshore listing services. The company was founded by Ning Wen on July 9, 2019 and is headquartered in Xi’an, China.