Core Insights - The State Taxation Administration of China, in collaboration with six other departments, has optimized the outbound tax refund policy to enhance the travel and consumption environment for foreign tourists [1] Group 1: Policy Implementation and Impact - The new tax refund measures led to a 116% year-on-year increase in the number of tax refunds processed from April 27 to May 26, with sales at refund stores rising by 56% [1] - The "immediate refund" service saw a staggering 32-fold increase in the number of transactions and a 50-fold increase in sales compared to the same period last year [1] - A total of 1,303 new tax refund stores were added, bringing the total to 5,196, which is 1.4 times the target set for the end of 2024 [1] Group 2: Regional Initiatives - In Beijing, the tax bureau has launched a "tax refund store in scenic areas" initiative, increasing the number of tax refund stores to over 1,300, with 40% being domestic brands [2] - The initiative includes full coverage policy guidance in nine scenic spots, ensuring that cultural and souvenir shops are included in the tax refund program [2] - In Shanghai, the tax bureau has innovated the "immediate refund" model, resulting in a 132-fold increase in sales for this service since its implementation, with over 60 new stores added [2]
离境退税新政实施首月办理退税数量同比增长116%