Latest news with #Alipay
The Star
25-05-2025
- Business
- The Star
China now offers instant tax refund to tourists in bid to boost consumption. Here's how it works
BEIJING: Visitors to China might soon find it easier to claim tax rebates at store checkouts – and that could mean a little extra cash to spend during their trip and fewer queues at the airport. Experts say this could boost the economy, but the key will be getting more retailers on board with the programme. China recently revised its tax rebate policy to allow foreign tourists to receive their tax refunds instantly at eligible stores, rather than only at the airport, and lowered the minimum spending required for such claims. Since April 27, tourists who spend at least 200 yuan (S$36) at the same store on the same day are eligible for the instant tax refund, down from the previous 500 yuan. The maximum cash refund amount has also been raised from 10,000 yuan to 20,000 yuan. Refunds can be received instantly through mobile payments such as WeChat and Alipay's digital wallets, credit cards and in cash. Previously, tourists had to get paper forms and receipts in order, and could receive the refunds only at the tax refund counter at the airport right before leaving the country. The catch? Not all shops offer this service, but Chinese authorities said they are working to broaden the list of such tax-refund stores in major shopping areas, pedestrian streets, tourist sites, resorts, cultural venues, airports, passenger ports and hotels. Goods eligible for refunds include luxury items, those from time-honoured Chinese brands such as traditional Chinese medicine pharmacy Tong Ren Tang and silk store Rui Fu Xiang, craft, cultural and heritage items, renowned Chinese consumer goods and sports products. Food and beverage stores are not included in the list. Chinese state media China Daily noted that a tourist who buys a Huawei Mate XT smartphone with an original price of 23,999 yuan, or $4,300, including tax, can receive an in-store refund of about $462 – enough for a high-speed train ride from Beijing to Shanghai and one-night luxury hotel stay. The policy tweak aims to boost inbound tourist consumption in the world's second-largest economy by getting visitors to spend more and sooner, as Beijing attempts to cushion some damage from the ongoing US-China trade war. The revised model was piloted in several cities, such as Beijing, Shanghai and Guangzhou, before being rolled out nationwide in April. Auratic, a Chinese porcelain tableware brand, was the sole store in Beijing's Silk Street mall offering in-store tax rebates to tourists. - Photo: ST Shan Guo, a partner at business consultancy Hutong Research, said the departure tax refund, according to China's current value-added tax rate, is around 11 per cent. 'The revised policy means tourists have 11 per cent more cash to spend in China, instead of bringing it home after getting it upon departure,' she said. Assuming that tourists spend all the cash refunded, Guo estimated that it could translate to another 0.05 per cent support to China's gross domestic product (GDP) – a modest figure, but a boost nonetheless. 'The upside could be higher – if tourists spend more than what they were refunded and if the policy attracts more visitors. Cities such as Shanghai could benefit as it is usually tourists' first and last stop in China, as well as the go-to place for luxury shopping,' she said. In 2024, China's inbound tourist spending accounted for about 0.5 per cent of China's GDP, compared with 1 per cent to 3 per cent in major economies. Chinese Vice-Minister of Commerce Sheng Qiuping highlighted it as an area with significant growth potential on April 27 when announcing the measures. A total of 132 million tourists spent more than US$94.2 billion in China in 2024, an increase of 77.8 per cent from 2023, according to the National Bureau of Statistics. With the policy in place, Guo noted that it was now a matter of getting more shops on board the instant tax rebate programme, as some retailers may not feel that offering this service benefits them. A sign near the entrance of luxury shopping mall SKP in Beijing indicating that the mall offers tax rebates to foreign tourists. - Photo: ST A check by The Straits Times in Beijing found that high-end shopping centres, SKP and China World Mall, have an instant tax refund counter, which is marked with a large blue sign. At Taikoo Li Sanlitun, a trendy shopping area popular with the young, most luxury international boutiques such as Gucci and Moncler offer the service. But a number of local Chinese brands, such as popular perfume brand To Summer, do not. The roll-out of the programme appears uneven, as smaller malls have not yet come on board. At Silk Street, a tourist-centric shopping mall in Beijing selling silk garments, leather goods and traditional handicraft, only one store selling porcelain tableware offered the service. Some sales assistants were perplexed when asked if their shop offered in-store tax rebates for foreign tourists, saying they had not heard of this new policy. But three sales assistants told ST that they have been informed there will be a mall-wide push to implement the in-store tax refund, although the timeline was unclear. A sales assistant selling Chinese brocade jewellery boxes, who wanted to be known only as Ms Wang, said: 'It'll be good for business because only tourists buy these items as souvenirs. But whether our in-store tax rebate system will be ready in two weeks or two months, I cannot say for sure.' How to get the in-store tax refund Spend at least 200 yuan at the same store on the same day. Present your passport at the store's checkout. The store will fill in a digital tax refund application form, which takes in your credit card number or e-wallet details, and does the tax refund on the spot or may direct you to a centralised refund counter within the mall or shopping area. At the refund counter, receive your funds via WeChat and Alipay e-wallets, credit cards or in cash. At the airport, before departure, present the digital form and receipts at the e-tax refund kiosk to validate your purchases. If you do not do this, your refund might be reversed and charged back to your credit card or e-wallets. - The Straits Times/ANN
Straits Times
24-05-2025
- Business
- Straits Times
China eases tax refund rules for tourists
Since April 27, tourists who spend at least 200 yuan (S$36) on the same day at the same store are eligible for the instant tax refund. ST PHOTO: MICHELLE NG China now offers instant tax refunds to tourists in bid to boost consumption. Here's how it works – Visitors to China might soon find it easier to claim tax rebates at the store's checkout – and that could mean a little extra cash to spend during the trip and fewer queues at the airport. Experts say this might boost the economy, but the key is getting more retailers on board the programme. China recently revised its tax rebate policy to allow foreign tourists to receive their tax refunds instantly at eligible stores, rather than doing so only at the airport, a nd also lowered the minimum spending for such claims. Since April 27, tourists who spend at least 200 yuan (S$36) on the same day at the same store are eligible for the instant tax refund, down from the previous 500 yuan. The maximum rebate amount for a cash refund has also been raised from 10,000 yuan to 20,000 yuan. Refunds can be instantly received through mobile payments such as WeChat and Alipay's digital wallets, credit cards and in cash. Previously, tourists had to get their paper forms and receipts in order, and could get the refunds only at the tax refund counter at the airport right before they left the country. The catch? Not all shops offer this service, but the Chinese authorities said they are working to broaden the list of such tax-refund stores in major shopping areas, pedestrian streets, tourist sites, resorts, cultural venues, airports, passenger ports and hotels. Goods eligible for refunds include luxury items, time-honoured Chinese brands such as traditional Chinese medicine pharmacy Tong Ren Tang and silk store Ruifuxiang, craft, cultural and heritage items, renowned Chinese consumer goods and sports products. Food and beverage stores are not included in the list. Chinese state media China Daily noted that a tourist who buys a Huawei Mate XT smartphone with an original price of 23,999 yuan (US$3,299) including tax, can receive an in-store refund of about US$360, which is enough for a high-speed train ride from Beijing to Shanghai and one-night luxury hotel stay. The policy tweak aims to boost inbound tourist consumption in the world's second-largest economy by getting visitors to spend more and sooner, as Beijing attempts to cushion some of the damage from the ongoing US-China trade war. The revised model was piloted in several cities such as Beijing, Shanghai and Guangzhou, before being rolled out nationwide in April. Ms Shan Guo, a partner at business consultancy Hutong Research, said the departure tax refund, according to China's current value-added tax rate (VAT), is around 11 per cent. 'The revised policy means tourists have 11 per cent more cash to spend in China, instead of bringing it home after getting it upon departure,' she said. Assuming that tourists spend all the cash refunded, Ms Guo estimated that it could translate to another 0.05 per cent support to China's gross domestic product (GDP) – a modest figure but a boost nonetheless. 'The upside could be higher if tourists spend more than what they were refunded and if the policy attracts more visitors. Cities such as Shanghai could benefit as it is usually tourists' first and last stop in China, as well as the go-to place for luxury shopping,' she said. A sign near the entrance of luxury shopping mall SKP in Beijing indicating that the mall offers tax rebates to foreign tourists. ST PHOTO: MICHELLE NG In 2024, China's inbound tourist spending accounted for about 0.5 per cent of China's GDP, compared with 1 to 3 per cent in major economies. Chinese Vice Minister of Commerce Sheng Qiuping highlighted it as an area with significant growth potential on April 27 when announcing the measures. A total of 132 million tourists spent more than US$94.2 billion in China in 2024, an increase of 77.8 per cent from 2023, according to the National Bureau of Statistics. With the policy in place, Ms Guo noted it is now a matter of getting more shops on board the instant tax rebate programme as some retailers may not feel that its benefits justify them offering this service. A check by The Straits Times in Beijing found that high-end shopping centres, SKP and China World Mall, have an instant tax refund counter, marked with a large blue sign, where tourists can get their refunds. At Sanlitun Taikoo Li, a trendy shopping area popular with the young, most luxury international boutiques such as Gucci and Moncler offer the service. But most local Chinese brands, such as popular perfume brand To Summer, do not. The rollout of the programme appears uneven, as smaller malls have not yet come on board. At Silk Street, a tourist-centric shopping mall in Beijing selling silk garments, leather goods and traditional handicrafts, only one store selling porcelain tableware offered the service. Auratic, a Chinese porcelain tableware brand, was the sole store in Silk Street mall in Beijing that currently offers in-store tax rebates to tourists. ST PHOTO: MICHELLE NG Some sales assistants were perplexed when asked if their shop offered in-store tax rebates for foreign tourists, saying they had never heard of this new policy. But three sales assistants told ST that they have been informed that there will be a mall-wide push to implement the in-store tax refund, although the timeline is unclear. A sales assistant selling Chinese brocade jewellery boxes, who wanted to be known only as Ms Wang, said: 'It'll be good for business because only tourists buy these items as souvenirs. But whether our in-store tax rebate system will be ready in two weeks or two months, I cannot say for sure.' How to get the in-store tax refund Spend at least 200 yuan (S$36) on the same day at the same store. Present your passport at the checkout. The store fills in a digital tax refund application form, which takes in your credit card number or e-wallet details, and does the tax refund on the spot or may direct you to a centralised refund counter within the mall or shopping area. At the refund counter, receive your funds via WeChat and Alipay e-wallets , credit cards or in cash. At the airport before departure, present the digital form and receipts at the e-tax refund kiosk to validate your purchases. If you do not do this, your refund might be reversed and charged back to your credit card or e-wallets. Michelle Ng is China Correspondent at The Straits Times. She is interested in Chinese foreign policies, property trends, demographics, education and rural issues. Join ST's Telegram channel and get the latest breaking news delivered to you.
Borneo Post
23-05-2025
- Business
- Borneo Post
China offers global consumers fresh shopping experiences
Phan poses for a photo in Miao ethnic costumes at the Fenghuang ancient town in Xiangxi Tujia and Miao Autonomous Prefecture, central China's Hunan Province on Sept 2, 2024. – Xinhua photo TIANJIN (May 24): Mok Jin Jin, a Malaysian student at Nankai University in north China's Tianjin Municipality, has observed a shift in his family's lifestyle since they received a Chinese-made blender. His mother now frequently tries new healthy breakfast beverages like soy milk, milkshakes and freshly made juices. She particularly appreciates the one-button self-cleaning function, which saves her time and effort. Not long ago, Mok purchased the blender through a Chinese e-commerce platform as a gift for his family. 'Chinese-made products excel in performance and design. They not only improve the living quality but also fulfill consumers' expectations of modern consumption,' Mok said. The notion that Chinese products were 'cheap and low-quality' was for long a common stereotype. However, in recent years, China has made significant strides in technological innovation and industrial upgrades, resulting in a remarkable improvement in the competitiveness of Chinese products. At the same time, China's increasingly diverse consumer market has provided foreign consumers with a more international, fashionable and multifaceted shopping experience. 'International brands are ubiquitous in China's major cities, and global products are easily accessible through online shopping platforms. 'This has made shopping in China extremely convenient,' Mok said. He was also pleasantly surprised to find several Malaysian food brands available in Chinese supermarkets and on e-commerce platforms. 'It's wonderful to be able to enjoy familiar tastes while abroad,' he said. Phan Dinh Thang, a Vietnamese student studying Chinese at Nankai University, echoed this sentiment. 'Shopping in China feels like 'global shopping' with an incredibly wide range of options,' he said. As more Vietnamese people learn Chinese, they find it easier to purchase quality products on Chinese e-commerce platforms. Thanks to China's robust supply chain system and efficient logistics network, goods shipped from China to Vietnam not only arrive quickly but are also cost-effective and often more affordable than local options in Vietnam. 'This has made 'Chinese shopping' a new trend in Vietnam and highlights the increasingly close consumer ties between China and Vietnam,' Phan explained. With China continuously optimising its international consumption environment, such as offering visa exemptions for some countries, enhancing departure tax refund policies and expanding international credit card payment channels – making shopping trips to China a new trend in cross-border tourism. Maltseva Varvara, a Russian visitor, shared her experience: 'The best thing about shopping in China is how fast, convenient and hassle-free it is.' After linking her international credit card to Alipay, Varvara found it easy to pay as she simply needed to scan via her phone by using a quick tap on its screen. 'The recent improvements in the departure tax refund policy have made shopping and traveling in China even more convenient and welcoming.' Some overseas consumers have formed 'shopping groups' and flown long distances to China to purchase popular products. According to data from China's Ministry of Commerce, the number of foreign visitors to Shanghai, Beijing, Guangzhou, Tianjin and southwest China's Chongqing in 2024 was nearly double the figure of the previous year. These five cities are home to almost 70 per cent of China's tax refund stores, while their imports of consumer goods accounted for over half of China's total last year. Foreign consumption in China has seen a noticeable increase. The National Immigration Administration reported that, since the implementation of a 240-hour visa-free transit policy, the number of foreign visitors has grown by 40.2 per cent year on year, with 71.3 per cent of them entering visa-free. The recent signing of a visa exemption agreement between China and Malaysia has made travel for Malaysian tourists more convenient. 'It's much easier for my friends and family to visit China now, and they get to experience firsthand the increasingly convenient living environment and vibrant consumer market here,' Mok said. China's Vice Commerce Minister Sheng Qiuping recently stated that China will continue to improve its international consumption environment, increase the supply of high-quality products, and create more diversified consumption scenarios to boost inbound consumption. Li Wei, dean of the Honor College of Tianjin Foreign Studies University, said that China is fostering an open, inclusive and diverse consumption environment that appeals to foreign visitors. 'This offers more opportunities for global consumers and businesses.' – Xinhua China consumer Made in China shopping Xinhua
Daily News Egypt
22-05-2025
- Business
- Daily News Egypt
China's inbound tourism continues heating up amid improving environment
China's inbound tourism has maintained strong momentum, with a sharp rise in both international arrivals and visitor spending, buoyed by streamlined visa policies and an improved travel environment, according to officials. About 132 million inbound tourists visited China in 2024, with total spending reaching 94.2 billion U.S. dollars, recovering to 97.2 percent and 93.5 percent of the 2019 levels, respectively, Shi Zeyi, an official in charge of international exchanges and cooperation at the Ministry of Culture and Tourism, said during a recent episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency. In the first quarter of 2025, China recorded 35.02 million inbound tourist visits, a 19.6 percent increase compared to the same period of last year, Shi added. Officials and industry insiders at the roundtable also highlighted the marked increase in inbound travel spending. Mobile payment giant Alipay reported a 180 percent surge in inbound tourist spending between May 1 and 3 this year, compared to the same period in 2024. The surge has been fueled in large by China's expanded visa-exemption program and a slew of measures aimed at making travel more convenient, including enhanced transportation access, simplified payment systems, and instant tax refunds for departing visitors, according to Shi. China now grants unilateral visa-free entry to people from 38 countries and has extended its visa-free transit period to 240 hours for travelers from 54 countries. About 380,000 foreigners entered China under these arrangements during the May Day holiday, a year-on-year increase of 72.7 percent. As more foreign travelers visit China and have positive experiences, the potential of the country's inbound consumption market will continue to grow, said Liu Jia, an official from the National Immigration Administration.
Malaysia Sun
21-05-2025
- Business
- Malaysia Sun
China offers global consumers fresh shopping experiences
TIANJIN, May 21 (Xinhua) -- Mok Jin Jin, a Malaysian student at Nankai University in north China's Tianjin Municipality, has observed a shift in his family's lifestyle since they received a Chinese-made blender. His mother now frequently tries new healthy breakfast beverages like soy milk, milkshakes and freshly made juices. She particularly appreciates the one-button self-cleaning function, which saves her time and effort. Not long ago, Mok purchased the blender through a Chinese e-commerce platform as a gift for his family. "Chinese-made products excel in performance and design. They not only improve the living quality but also fulfill consumers' expectations of modern consumption," Mok said. The notion that Chinese products were "cheap and low-quality" was for long a common stereotype. However, in recent years, China has made significant strides in technological innovation and industrial upgrades, resulting in a remarkable improvement in the competitiveness of Chinese products. At the same time, China's increasingly diverse consumer market has provided foreign consumers with a more international, fashionable and multifaceted shopping experience. "International brands are ubiquitous in China's major cities, and global products are easily accessible through online shopping platforms. This has made shopping in China extremely convenient," Mok said. He was also pleasantly surprised to find several Malaysian food brands available in Chinese supermarkets and on e-commerce platforms. "It's wonderful to be able to enjoy familiar tastes while abroad," he said. Phan Dinh Thang, a Vietnamese student studying Chinese at Nankai University, echoed this sentiment. "Shopping in China feels like 'global shopping' with an incredibly wide range of options," he said. As more Vietnamese people learn Chinese, they find it easier to purchase quality products on Chinese e-commerce platforms. Thanks to China's robust supply chain system and efficient logistics network, goods shipped from China to Vietnam not only arrive quickly but are also cost-effective and often more affordable than local options in Vietnam. "This has made 'Chinese shopping' a new trend in Vietnam and highlights the increasingly close consumer ties between China and Vietnam," Phan explained. With China continuously optimizing its international consumption environment, such as offering visa exemptions for some countries, enhancing departure tax refund policies and expanding international credit card payment channels -- making shopping trips to China a new trend in cross-border tourism. Maltseva Varvara, a Russian visitor, shared her experience: "The best thing about shopping in China is how fast, convenient and hassle-free it is." After linking her international credit card to Alipay, Varvara found it easy to pay as she simply needed to scan via her phone by using a quick tap on its screen. "The recent improvements in the departure tax refund policy have made shopping and traveling in China even more convenient and welcoming." Some overseas consumers have formed "shopping groups" and flown long distances to China to purchase popular products. According to data from China's Ministry of Commerce, the number of foreign visitors to Shanghai, Beijing, Guangzhou, Tianjin and southwest China's Chongqing in 2024 was nearly double the figure of the previous year. These five cities are home to almost 70 percent of China's tax refund stores, while their imports of consumer goods accounted for over half of China's total last year. Foreign consumption in China has seen a noticeable increase. The National Immigration Administration reported that, since the implementation of a 240-hour visa-free transit policy, the number of foreign visitors has grown by 40.2 percent year on year, with 71.3 percent of them entering visa-free. The recent signing of a visa exemption agreement between China and Malaysia has made travel for Malaysian tourists more convenient. "It's much easier for my friends and family to visit China now, and they get to experience firsthand the increasingly convenient living environment and vibrant consumer market here," Mok said. China's Vice Commerce Minister Sheng Qiuping recently stated that China will continue to improve its international consumption environment, increase the supply of high-quality products, and create more diversified consumption scenarios to boost inbound consumption. Li Wei, dean of the Honor College of Tianjin Foreign Studies University, said that China is fostering an open, inclusive and diverse consumption environment that appeals to foreign visitors. "This offers more opportunities for global consumers and businesses."
