Ren Min Ri Bao·2025-11-10 22:15Core Insights - The core focus of the news is the launch of an innovative tax refund service product by China UnionPay in collaboration with Bank of China during the China International Import Expo, aimed at enhancing the payment experience for foreign visitors in China [1][2]. Group 1: Innovative Service Model - The newly launched tax refund service integrates "immediate purchase and refund" and "port tax refund" scenarios, creating a complete service loop from "inbound consumption" to "outbound tax refund" [2]. - Foreign tourists can use various international cards, including UnionPay, Visa, Mastercard, JCB, and Diners Club, at designated tax refund service points and stores [2]. - The service utilizes dedicated POS machines provided by UnionPay Business, allowing for integrated pre-authorization and tax refund settlement, significantly reducing the time for tax refunds to be credited back to cards [2]. Group 2: Deepening Industry Collaboration - China UnionPay is enhancing its global payment network, which now covers 183 countries and regions, supporting international card issuance in 84 countries, thereby facilitating trade and cultural exchanges [3]. - The tax refund service reflects China UnionPay's commitment to the "payment for the people" philosophy and its role in promoting high-level openness in the financial sector [3]. - Future plans include further collaboration with Bank of China and other partners to improve cross-border payment services and ensure the effective implementation of innovative services like tax refunds nationwide [3].