China issues tax refund policies for foreign tourists to boost inbound consumptionChina will promote the expansion of tax refund stores in shopping areas, scenic spots, airports and hotels, according to a statement released jointly by the commerce ministry and other departments.
Last Updated IST
A Chinese national flag flies as people walk on a pedestrian bridge at the Lujiazui financial district in Shanghai, China.
Credit: Reuters Photo
Beijing: China said on Sunday it will improve tax refund policies for foreign tourists to boost inbound consumption, part of efforts to boost the economy as domestic demand remains tepid.
China will promote the expansion of tax refund stores in shopping areas, scenic spots, airports and hotels, according to a statement released jointly by the commerce ministry and other departments.
The minimum refund point for one overseas traveler in the same tax-refund shop on the same day will be lowered to 200 yuan ($27.45) from 500 yuan before, the statement said. ($1 = 7.2864 Chinese yuan renminbi)