(Yicai Global) May 9 -- Shanghai, China's largest city, is set to open its first duty-free shop not based in an airport by the end of this year, official news outlet the Shanghai Observer reported today.

The shop will likely be built in Lujiazui, the city's financial hub, to give foreigners a chance to go duty-free shopping while in the city, the report added. Travelers can pay for goods at the shop and then receive them, alongside a tax reimbursement, when leaving the country.

Editor: James Boynton