China’s duty-free market poised to grow fourfold to US$40 billion by 2025

China’s duty-free market is forecast to grow fourfold to 258 billion yuan (US$40 billion) in 2025, a new report says, as the government looks to boost domestic consumption to shore up the economy.The duty-free market in China was estimated to be worth 66 billion yuan last year, according to a report by The Economist Intelligence Unit (EIU) published on Saturday. But it is poised to quadruple in value in three years’ time, provided Beijing clears strict quarantine mandates for international…

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