提振消费利好

Core Viewpoint - The Chinese government is enhancing the duty-free shop policy to stimulate consumer spending, effective from November 1, 2025, aiming to attract foreign consumption and promote domestic products [1][4]. Group 1: Policy Enhancements - The policy optimizes the management of domestic goods tax refunds, supporting the sale of domestic products in both port exit and city duty-free shops [4][5]. - Companies with duty-free qualifications are encouraged to increase the procurement of high-quality domestic products, which will be treated as exports for tax refund purposes [4][5]. - Duty-free shops are required to promote domestic products, including traditional cultural items, with at least 25% of their sales area dedicated to these products [5][6]. Group 2: Expansion of Product Categories - The policy expands the categories of goods available in duty-free shops, adding items such as mobile phones, drones, sports goods, health foods, over-the-counter drugs, and pet foods [2][6]. - There is an emphasis on accelerating the introduction of popular overseas products into Chinese duty-free shops [2][6]. Group 3: Approval Process and Local Adaptation - The approval authority for establishing and operating duty-free shops is being decentralized to local governments, allowing for tailored approaches based on regional conditions [8][9]. - Local governments are encouraged to optimize the layout of duty-free shops to enhance consumer experience and attract inbound spending [9][10]. Group 4: Consumer Experience Improvements - Duty-free shops will offer online reservation services, allowing travelers to pre-order products based on their travel itineraries [10][11]. - Travelers can pick up pre-ordered items at designated duty-free locations, enhancing convenience and shopping experience [10][11]. Group 5: Implementation and Coordination - The Ministry of Finance will coordinate with relevant departments to ensure the effective implementation of the new policy [11][12]. - Local governments are responsible for overseeing the management of duty-free shops and ensuring the policy's effectiveness in boosting consumption [11][12].