China Enhances Tax Refund Policy to Drive Inbound Consumption

China has introduced an upgraded set of measures aimed at revitalizing inbound consumption and elevating the shopping experience for international travelers. The new policy, labeled as the “2.0 version,” expands the tax refund coverage, simplifies customs procedures, and enhances digital services to facilitate overseas visitors. Vice Minister of Commerce Sheng Qiuping underlined the policy’s objective to make tax refunds more convenient for travelers, thereby enriching the inbound consumption environment. In recent years, China has been actively enticing foreign tourists through visa policies and improved payment services. This strategy, combined with the “Shopping in China” initiative, has significantly boosted inbound spending….