People walk on a street with food shops during the five-day Labour Day holiday in Shanghai, China, May 4, 2025. REUTERS/Go Nakamura
BEIJING: China witnessed a vibrant surge in inbound tourist spending during the recent May Day holiday as more foreign visitors flocked to attractions and left with full shopping bags, driven by the country’s recently optimised tax refund policies.
Central bank data revealed that the number of transactions made by inbound visitors and processed through card payment giant China UnionPay or NetsUnion Clearing Corp, a Chinese online payment clearing house, increased nearly 245% over the five-day holiday, with the total transaction value up over 128% year-on-year.
On mobile platforms, popular Chinese payment app Alipay reported a 180% rise in inbound tourist spending between May 1 and 3, while WeChat Pay recorded nearly triple overseas user transaction volume and value figures in the Chinese mainland compared to the same period last year.
This rise in inbound consumption is the fruit of China’s latest push to encourage foreign tourist spending.
China is also accelerating its development of international consumption centre cities to stimulate inbound spending further. — Xinhua/ANN
