According to the WiseNews APP, Beijing Capital Airport (00694) is up more than 4% as of press time, with the price at HK$2.82, up 4.44%, and the turnover of HK$42.0032 million.

According to the audit report on the implementation of the Central Budget and other financial revenues and expenditures in 2023 issued by the State Council, the National Audit Office proposes that a new round of fiscal and taxation system reform is being planned, and the reform of consumption tax is of great concern. GTJA believes that the direction of reform for consumption tax is already clear, mainly to expand the scope of taxation and move the taxation process backward, accompanied by corresponding adjustment of tax rates.

Daiwa believes that, overall, potential policy reforms are slightly bullish for the underperforming duty-free industry, but weak consumption remains a clear issue. The bank believes that the reform of consumption tax will boost investment sentiment in the duty-free industry and support CDFG in the short term, but remains cautious about weak consumption. The bank says that due to the relatively low average consumption level, there is great potential for recovery in the airport duty-free sales, and recommends a buy rating for Beijing Capital Airport.