项目位于福田区核心商圈深业上城L1层，占地近3000m²，整体空间布局分为免税商品区和有税商品 区。免税商品涵盖香化、美妆护肤、腕表首饰、酒水、旅行电子等品类，囊括雅诗兰黛、海蓝之谜、娇 韵诗、苹果、茅台等国际国内知名品牌；有税商品区则引入潮玩集市、国潮美妆、户外运动、威士忌 +腕表，以及同仁堂"知嘛健康"等特色板块，满足不同人群的消费需求。 值得一提的是，深圳市内免税店探索从免税零售向旅游零售、品质零售延展，落实"免税+有税""线下 +线上""进口+国产"的多元经营模式。在有税区域同步布局"离境退税"业务，形成免税、退税与有税业 务相互联动的多渠道增长格局，不断提升精细化运营水平。 （文章来源：21世纪经济报道） 21世纪经济报道记者李金萍深圳报道 8月26日，深圳首家市内免税店在福田区深业上城正式开业。 该项目是财政部等五部门联合印发《关于完善市内免税店政策的通知》后落地的首批标志性项目之一。 市内免税店是面向即将在规定期限内（新政规定为60日）搭乘国际航空运输工具或国际邮轮出境的旅客 （包括但不限于中国籍旅客）销售免税商品的新型零售业态。相较于传统口岸免税店，市内免税店具有 购物时间更灵活、环境更舒适、 ...

相比之下，受房地产行业深度调整影响，公司房地产项目结转收入和毛利较上年同期下降，继续对公司 业绩形成拖累。公司表示，正持续加大存量房地产销售力度，通过数字化营销升级与渠道整合，加速去 化，全力履行"五年房地产业务有序退出"承诺。 公司表示，将持续把握粤港澳大湾区政策机遇，通过业态创新与资源整合，稳步推动消费产业生态升 级。 中证报中证网讯(王珞)8月25日晚，珠免集团（600185）发布2025年半年度报告。报告期内，公司实现 营业收入17.40亿元，归属于上市公司股东的净利润-2.74亿元，同比减亏2.80亿元。亏损幅度显著收 窄，免税业务成为关键支撑，公司"免税+商管+商贸"转型战略持续推进。 上半年，珠免集团在免税业务上积极推陈出新。通过引入香槟、白兰地等新品，拓展跨境电商与完税贸 易渠道，提升香化、食品销售占比。同时，公司调整免税店经营布局，实施差异化品类策略，提升坪 效。深化与保乐力加、轩尼诗等国际品牌的合作，满足消费者需求。通过整合免税资源赋能线上及消费 品贸易，构建大供应链体系。公司还致力于挖掘国内优质品牌，推动国货走向国际市场。政策环境也为 免税业务提供利好。珠海赴澳门旅游"一签多行"实施后， ...

Core Viewpoint - The official announcement of the Hainan Free Trade Port's full island closure operation starting December 18 signifies the establishment of China's largest free trade port, enhancing its international market connectivity and attracting global quality resources [1][3]. Group 1: Impact on the Beauty Industry - Hainan has become a crucial duty-free shopping destination for international beauty brands, with a total duty-free shopping amount of 250.1 billion yuan since the implementation of the duty-free policy in April 2011, where cosmetic products account for over 50% of sales [3]. - The "closure" refers to designating Hainan as a "domestic outside" area, allowing for zero tariffs on imported goods while maintaining customs management for goods entering other domestic regions [3][4]. - The range of zero-tariff products will expand from 1,900 to approximately 6,600 tax items, covering 74% of all product categories, which is an increase of nearly 53 percentage points compared to before the closure [6]. Group 2: Cost Reduction and Market Competitiveness - The elimination of import tariffs on cosmetics will directly reduce import costs for companies, with the lowest most-favored-nation tax rate for skincare products being 1% and up to 6.5% for other beauty products [7]. - The processing and value-added policy allows goods processed in Hainan with over 30% imported materials to enter the mainland exempt from import tariffs, only subject to value-added and consumption taxes, enhancing market competitiveness [7]. - As of March 2023, the value of processed goods for internal sales in Hainan reached 7.546 billion yuan, with an estimated tariff exemption of about 601 million yuan [7]. Group 3: Strategic Adjustments by International Brands - Major international beauty brands have already begun to strengthen their presence in Hainan, with several opening duty-free stores in recent years, including Kao, Shiseido, L'Oréal, Estée Lauder, and Procter & Gamble [8]. - The closure of Hainan is seen as a pivotal moment for international beauty brands in China, shifting focus from "traffic competition" to "value cultivation," with the ability to convert policy benefits into brand assets being crucial for future competitiveness [10]. Group 4: Opportunities for Domestic Brands - The closure presents multifaceted opportunities for domestic beauty brands, allowing them to reduce raw material costs through processing policies and enhance their high-end image via duty-free channels [12]. - Domestic brands can leverage Hainan as a global launchpad, establishing a model of "R&D in Hainan, manufacturing in the mainland, and global sales" [12]. - However, challenges remain, including the need for domestic brands to differentiate their products in a competitive market dominated by international players [12].

Group 1: Policy and Platform Dynamics - The consumption stimulus policy for 2025 is significantly penetrating daily scenarios, with subsidies for home appliances, electric vehicles, and energy-saving products creating a dual leverage effect with e-commerce promotions [3] - Major platforms are simplifying rules and extending promotional periods, with the 618 sales event lasting 37 days, allowing for diverse consumption scenarios [3] - The shift in the burden of discounts from merchants to platforms is evident, as platforms like Douyin and Taobao are providing cash subsidies to merchants, indicating a transition from "traffic harvesting" to "ecosystem cultivation" [3] Group 2: Consumer Segmentation - The consumer structure is evolving into three main groups: new power consumers (Z generation and small-town youth), blue ocean consumers (silver-haired and middle-aged), and quality-focused consumers (urban white-collar and discerning mothers) [4][5] - Emotional value is becoming a key driver of consumption, with 40.1% of young consumers prioritizing emotional satisfaction in their purchasing decisions [5] Group 3: Technological Empowerment - The 618 event highlights three key areas of technological empowerment: smart home revolution, globalized duty-free consumption, and the industrialization of emotional consumption [6][7] - Smart locks are predicted to see sales exceed 1.3 million units, with advanced biometric technologies becoming increasingly popular [6] - Duty-free shopping is evolving into a major cross-border consumption scene, with significant growth in inbound tourism and duty-free store revenues [6] Group 4: Capital Market Dynamics - The secondary market is experiencing a revaluation of consumption investments, with new consumption entities like Pop Mart and Lao Pu Jin seeing significantly higher price-to-earnings ratios compared to traditional consumer stocks [8] - Traditional leaders are stabilizing, with a focus on cash flow and return on equity, while low-tier market consumption confidence is recovering [8] Group 5: Key Variables in June - Three critical variables will determine consumption performance in June: the balance of price and experience, the efficiency of emotional consumption conversion, and the multiplier effect of policies [9][10] - The average price of smart locks is rising, but enhanced features are helping to mitigate the impact of price increases [9] Group 6: Conclusion on Market Trends - The 2025 consumption market is characterized by differentiation, emotionalization, and technological advancement, with the true battleground shifting to consumer psychology [11] - The new consumption symbols are emerging, reflecting a shift in consumer values and preferences [12]

5月22日，长沙市内免税店发布暨内外贸一体化合作深洽会公布，长沙市内首家免税店将落户五一广场王府井百货8楼，预计于今年9月底对外 营业，设立在五一广场王府井百货8楼。 市内免税店是指设立在市内特定区域，向即将出境的国际旅客销售免税商品的商店。2024年8月，财政部、商务部、文化和旅游部、海关总 署、税务总局联合发布通知，在长沙、武汉、广州等8个城市各设立一家市内免税店。今年1月24日，王府井集团股份有限公司发布公告，确定 其成为长沙市内免税店经营主体招商项目的成交供应商。 那市内免税店里的商品到底要如何购买？ 时间和地点都定了！ 2024年10月1日起将按照《市内免税店管理暂行办法》规范市内免税店管理工作。根据该通知，市内免税店设立在城市内的特定区域，销售对 象为即将于60日内搭乘航空运输工具或国际邮轮出境的旅客（包括但不限于中国籍旅客）。新设立的这批免税店，除销售全球好物外，还将销 售国货"潮品"，将具有自主品牌、有助于传播中华优秀传统文化的特色产品纳入经营范围。 "长沙王府井市内免税店将设立在长沙王府井百货8楼，分为有税经营区和免税经营区。通过首家市内免税店，未来外国游客不仅能在这里买到 来自世界各地的优 ...

武商集团于2024年12月26日与王府井签署《武汉市内免税店投资合作协议》，拟共同出资设立合资公司，用于运 营位于湖北省武汉市江汉区解放大道688号-1、690号的武汉市内免税店。合资公司注册资本8000万元，其中武商 集团出资3920万元，占合资公司股份的49%；王府井出资4080万元，占合资公司股份的51%。免税店将主要经营 食品、服装服饰、箱包、鞋帽、母婴用品、首饰和工艺品、电子产品、香化产品、酒等便于携带的消费品。相关 消息显示，在退税商店，境外旅客与境内普通市民一样购买商品，同一境外旅客同一日在同一退税商店内购买退 税物品的金额达到200元人民币，即可申请开具退税依据。 武商集团方面表示，开设市内免税店符合公司发展战略，有助于拓展公司新赛道，促进消费回流。 近日，湖北省财政厅公布全省第一批境外旅客购物离境退税商店名单，武商集团旗下五家门店成为湖北省首批境 外旅客离境退税商店，分别是武商MALL、武商MALL·世贸、武商梦时代、武商超市武商MALL·生活馆、武商超 市梦时代生活馆。 长江商报消息 ●长江商报记者 徐靓丽 武商集团（000501.SZ）日前发布消息，武汉首家市内免税店将于5月30日在武商 ...

Core Viewpoint - The implementation of favorable policies, such as the 144-hour visa-free transit, has significantly boosted China's inbound and outbound tourism, leading to a rapid recovery in the tourism market and increased consumer spending in duty-free shopping [2] Group 1: Duty-Free Store Policy - The Ministry of Finance, Ministry of Commerce, Ministry of Culture and Tourism, General Administration of Customs, and State Taxation Administration issued a notice to enhance the management of city duty-free stores, effective from October 1, 2024 [2][4] - The new regulations exempt duty-free stores from customs duties, import VAT, and consumption tax on imported goods, while domestic goods sold in these stores are treated as exports, allowing for tax refunds [4][6] - The policy aims to promote the healthy and orderly development of city duty-free stores, with a focus on enhancing consumer shopping experiences through reduced costs [6] Group 2: Store Operations and Requirements - City duty-free stores are required to sell goods only to travelers holding valid exit documents and are set to operate under a "buy in-store, pick up at the port" model [9][10] - The stores must undergo customs inspection and approval before commencing operations, with existing stores in major cities like Beijing, Shanghai, and Xiamen adapting to the new regulations starting October 1, 2024 [7][8] - New duty-free stores will be established in cities such as Guangzhou, Chengdu, and Shenzhen, with a focus on selling a variety of consumer goods [8] Group 3: Tax Benefits and Consumer Impact - The tax exemptions provided by the new policy can significantly lower operational costs for duty-free stores, enhancing their competitive pricing and improving the shopping experience for consumers [6] - For example, a hypothetical case of jade ornaments illustrates that the total tax savings for a duty-free store can amount to 1,228.14 yuan, which translates to lower prices for consumers [5][6] - The policy encourages the sale of domestic products, particularly those that promote Chinese culture, thereby supporting local brands [7]