US EditionChina lowers minimum amount for tax refunds for tourists to boost spending
- China reduced the minimum spending required for tax refunds for foreign tourists from 500 yuan to 200 yuan, according to a joint statement by the Ministry of Commerce and other authorities.
- The upper limit for cash tax rebates has increased to 20,000 yuan as part of efforts to boost consumption amid economic pressure.
- China’s Vice Minister of Commerce Sheng Qiuping highlighted that tourist spending contributed 0.5% to China's GDP in 2024, indicating growth potential compared to other countries.
- Inbound tourists spent $94.2 billion in the previous year, marking a 77.8% increase.
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China lowers threshold for tax refund for foreign visitors
China unveiled a set of measures on Sunday to further optimize its departure tax refund policy to better meet overseas tourists' needs and expand inbound consumption. Chinese observers and industry participants said the continued opening up move will elevate China's standing as a global tourist destination and contribute to domestic consumption by giving foreign tourists more benefits.
·Beijing, China
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Associated Press News+18 Reposted by 18 other sources
China lowers minimum amount for tax refunds for tourists to boost spending
China has lowered the minimum amount tourists spend to get tax refunds as part of measures to boost consumption as its economy comes under pressure during a trade war between Beijing and Washington.
·United States
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Total News Sources41
Leaning Left7Leaning Right5Center9Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 33%
C 43%
R 24%
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