Chairman of Supervisory Board of Key and Major SOEs Zhao Xiaoping and his team has recently visited China Duty Free stores in Yanji, Huichun and Tumen, accompanied by Vice Secretary of the Party Committee of CITS Yang Chenguang.
Zhao Xiaoping inspected the three China Duty Free stores respectively in Yanji, Huichun and Tumen, seeking to understand the sales performance as well as the work, learning and life of the staff through talks with some employees in the stores. After on-site inspection, he listened to the work reports by general managers of the three stores for detailed understanding of the corporate legal person governance structure, business performance, financial condition and distribution of dividends while inquiring about the operational management and risk control measures implemented by CDFG on its subsidiaries as well as the system construction and execution of the subsidiaries.
Having listened to the work report, Zhao Xiaoping positively acknowledged the business operations and management of the three duty free stores, pointing out that under the leadership of CDFG, the three stores have put in place relatively complete corporate legal person governance structure and taken positive measures when facing difficulties through regulation and rule construction, enhanced staff training and effective management measures, hence nurturing fast growth in revenues and profitability. Zhao Xiaoping stated five expectations for the future development of the three duty free stores. First, business management and procedure reconstruction shall be intensified and commodity shall be based on consumer demand with guaranteed supply; while outbound travelers’ demand should be satisfied in store management, commodity portfolio and services. Second, the procurement channel shall be ensured with the stock effectively controlled and digested in a rational manner. Third, the store environment shall be optimized for better arrangement of duty free goods. Fourth, team construction and training shall be strengthened with further progress in language and communication skills, knowledge of commodity, sales skills and service quality of front-line staff. Fifth, CDFG shall strengthen its regulation and administration of the duty free stores, providing differentiated guidance based on the shareholding status of various types of duty free stores while reducing loopholes, standardizing procedures and improving management level through regulations and modern technologies such as IT application.
Yang Chenguang conveyed the greetings from Chairman Wang Weimin as he thanked Zhao for his positive remarks on the achievements of CDFG, pledging that CITS and CDFG shall conscientiously follow the suggestions and advice by Chairman Zhao Xiaoping, with constant improvement in internal control and risk management while striving for greater ambitious progress.