China lowers the minimum amount for tax refund for tourist to strengthen consumption

Beijing – China has announced a lower tax for tax refund for foreign tourists among a series of policies on Sunday to increase consumption as His economy comes under pressure During a trade war between Beijing and Washington.

Passengers can apply for tax refund if in the same store (about $ 27) in the same store (about $ 27) on the same day and meet other requirements that begin on Sunday, according to the joint statement of the Ministry of Trade and other authorities. The earlier minimum amount was 500 yuan (about $ 69).

The upper limit for their cash discount in cash is also doubled to 20,000 yuan ($ 2,745).

The government will expand the reporting on tax return stores and simplify the procedures. Officials encourage some regions for setting points for refund for passengers to obtain rebates immediately after their purchases in areas highly concentrated tourists, the statement is stated.

The Chinese vice-presenter Sheng Qiuping told reporters at the press conference that in the entrance tourism consumption consisted of about 0.5% of the Chinese gross domestic product in 2024, while the numbers in other major countries range between 1% and 3%. This indicated great potential for growth, Sheng said.

Last year, the consumption of entrance tourists hit $ 94.2 billion, which added 77.8%, added.

The Chinese economy expanded to 5.4% at the annual pace in January-Mart, the government said earlier this month, supported strong exports before the US President Donald Trump, rapidly increasing tariffs in Chinese products.

However, analysts expected the second largest world economy to slowly slow down in the coming months as tariffs as much as 145% on American imports from China enters into force. Beijing returned to the USA with 125% tariffs on American exports, while emphasizing his determination to keep his own market open for trade and investment.

China has He stepped up efforts Spur more consumer consumption and private sector investment in the past months, doubling on subsidies for automatic and direction and routing devices for more facilities and other occupancy industry.