Core Viewpoint - The optimization of the departure tax refund policy is significantly boosting inbound consumption and expanding domestic demand in China [1][2][3] Group 1: Policy Implementation and Impact - The departure tax refund policy has led to a 116% year-on-year increase in the number of tax refund transactions and a 56% increase in sales at tax refund stores in its first month of implementation [1] - The number of departure tax refund stores has increased to 5,196, which is 1.4 times the number at the end of 2024 [1] - The policy includes eight measures aimed at expanding the number of tax refund stores, enriching the range of refundable goods, and improving service levels [1][2] Group 2: Economic and Market Implications - The policy is expected to enhance the shopping experience for foreign travelers, thereby increasing their willingness to spend and stimulating domestic consumption [2][3] - The growth of tax refund stores and the optimization of their layout are contributing to the prosperity of the retail sector, providing broader market opportunities for domestic enterprises [2][3] - The departure tax refund policy is seen as a key to unlocking a trillion-yuan inbound consumption market, facilitating China's transition from a "world factory" to a "global consumption hub" [3] Group 3: Regional Innovations and Developments - Various regions are innovating their processes and services, such as Beijing establishing centralized refund points and Shanghai introducing self-service tax refund machines [2][3] - Shenzhen has launched a "one order, one package" model for customs inspection and has set up a dedicated departure tax refund area at a national cultural industry expo [2][3] Group 4: Future Optimization Suggestions - There is potential for further optimization of the departure tax refund policy, including expanding the range of refundable goods and enhancing digital services for refunds [4] - Improving inter-departmental coordination and reducing unnecessary procedures can enhance visitor satisfaction [4] - Increasing awareness and usage of the policy through better promotion and considering international collaborations for tax refund services can further enhance China's attractiveness as a shopping destination [4]

Group 1 - Qingdao is enhancing inbound consumption by promoting international consumer attraction and optimizing tax refund policies, resulting in a sales increase of 18.87 million yuan, a 57.1% year-on-year growth [1] - The city has implemented a comprehensive plan to expand international consumption, focusing on 22 key areas including dining, accommodation, and entertainment, while also supporting the integration of duty-free and foreign trade [1][2] - The number of duty-free stores in Qingdao has increased to 71, with 29 new stores added, marking a 69% year-on-year growth [1] Group 2 - Qingdao is hosting various events to attract international consumers, including the Huabiao Awards, which featured 39 activities and garnered over 300 million views through live streaming [2] - The city is developing unique consumption IPs such as "Romantic Qingdao" and "Bao Island Food," with over 500 businesses participating in related events, leading to a total transaction amount of 720 million yuan [2] - Qingdao has become one of the top ten popular destinations for inbound tourism during the May Day holiday, with 2.117 million visitors attending various cultural and entertainment activities [2] Group 3 - The Qingdao Municipal Bureau of Commerce plans to further optimize the "immediate refund" process for outbound travelers shopping in duty-free stores, aiming to enhance the efficiency of tax refund services [3]

离境退税"即买即退"与"一单一包"的便利化模式，正悄然重塑境外旅客在深圳的跨境消费体验。 "一单 一包"措施更是深圳推出的独创性解决方案，并在商务部全国离境退税工作推进会上被作为经验分享。 购物当场退税约9%，海关验核5分钟通关，再加上深圳退税商店布局的优化、打造出的便捷支付和以优 质电子产品为代表的"深圳制造"的吸引力，深圳入境消费迎来大幅增长，外国人在华强北疯狂"扫货"现 象还曾登上央视。 数据显示，今年一季度，深圳退税业务办理2945笔，商品销售额1.83亿元，同比分别增长3.7倍、1.5 倍。1.83亿元，对已迈入万亿规模的深圳消费来说，似乎并不起眼。正所谓"有苗不愁长"，入境消费的 潜力不可限量，完全可以做成一门"大生意"。 近年来，中国不断有序扩大自主开放和单边开放，对38个国家实行了单方面免签政策，对54个国家实行 过境免签并将停留时间延长至240小时，可以说免签扩容正在与"即买即退"形成完美的消费闭环。 首先是深圳离境退税业务不断迅猛增长。据深圳海关透露，端午假期，深圳离境退税达394票，退税货 值达943.8万元，同比增长5.2倍；其中6月1日达178票，创单日新高。2024年，深圳退税业务 ...

下月起，离境退税政策实施新增两地。据财政部6月16日发布的消息，大连市、湖北省自2025年7月1日 起，按照有关规定实施境外旅客购物离境退税政策。 目前，在离境退税政策优化扩容的助推下，境外旅客来华购物的热情正持续升温，入境消费潜力不断释 放。 中国数实融合50人论坛智库专家洪勇在接受《证券日报》记者采访时表示，我国扩大高水平对外开放政 策的落地见效，中国文化的国际影响力，以及支付和旅游服务的便捷性共同促进了入境消费的增长。其 中，优化离境退税政策等举措显著降低了境外旅客的消费成本，直接刺激了入境旅游消费。 4月份，商务部等六部门发布《关于进一步优化离境退税政策扩大入境消费的通知》（以下简称《通 知》），明确推动离境退税商店增量扩容、丰富离境退税商品供给、提升离境退税服务水平。 具体而言，《通知》提出下调离境退税起退点、将现金退税限额上调至20000元人民币等举措，为吸引 境外旅客来华购物、激发入境消费潜力提供积极助力。 国家税务总局数据显示，《通知》中的政策措施实施首月（4月27日至5月26日），退税商店数量明显增 加，退税金额显著增长。全国税务部门办理离境退税笔数同比增长116%，退税商店销售额同比增长 ...

Core Viewpoint - The domestic consumption market in China has shown strong resilience and vitality in May, with a year-on-year growth of 6.4% in retail sales of consumer goods, marking the highest monthly level since 2024 [1][2]. Group 1: Factors Supporting Consumption Growth - Government policies aimed at boosting consumption, such as "trade-in" and "consumption vouchers," have directly reduced consumer costs and released consumption potential [2]. - The stabilization of the macro economy has improved income levels, leading to increased demand for high-end and smart products, thus driving market recovery [2]. - Strong credit support has been observed, with RMB loans increasing by 10.68 trillion yuan in the first five months, which has directly enhanced consumer capacity and willingness [2]. Group 2: Specific Consumption Trends - The "trade-in" policy has significantly stimulated durable goods consumption, with retail sales of home appliances and communication equipment growing by 53.0% and 33.0% respectively in May [3]. - The holiday economy and promotional activities, such as the "May Day" and "618" sales, have effectively boosted consumption, with restaurant income growing by 5.9% [4]. - There is a clear trend towards high-quality and smart consumption, with retail sales of gold and silver jewelry and sports entertainment products increasing by 21.8% and 28.3% respectively [5]. Group 3: Emerging Opportunities in Consumption - Service consumption is expanding, becoming a significant growth point, with cultural performances and tourism services seeing notable increases [5]. - The relaxation of inbound consumption policies has attracted more foreign tourists, with a 72.7% year-on-year increase in the number of visitors eligible for visa-free entry during the "May Day" holiday [5]. - Overall, the consumption market's prosperity is a result of multiple factors, and it is expected to continue providing solid support for economic growth and development opportunities for various consumer sectors [6].

Group 1: Consumption Growth and Policies - In May 2025, retail sales grew by 6.4% year-on-year, significantly exceeding the market expectation of 4.85%[1] - The government has prioritized "restoring and expanding consumption" as a key task for 2025, with over 20 specific measures introduced to stimulate consumption[1] - The "old-for-new" subsidy policy for consumer goods has been expanded, with the subsidy amount increasing from 150 billion yuan in 2024 to 300 billion yuan in 2025[2] Group 2: Impact of Subsidy Policies - The "old-for-new" policy has driven sales of five major categories of consumer goods to reach 1.1 trillion yuan, with approximately 175 million subsidies issued to consumers by the end of May 2025[2] - Retail sales of household appliances and audio-visual equipment saw a year-on-year increase of over 30%, indicating strong demand driven by the subsidy policies[5] - The tourism sector experienced a record high during the Dragon Boat Festival, with 119 million domestic trips and total spending of 42.73 billion yuan, reflecting a 5.9% increase year-on-year[10] Group 3: Long-term Consumer Confidence Challenges - Despite short-term stimulus effects, consumer willingness remains low, with only 24.9% of residents inclined to spend more, while 61.4% prefer to save[15] - Structural issues such as housing, education, and healthcare costs continue to suppress consumer spending, necessitating deeper policy interventions[15] - To enhance long-term consumption capacity, policies must focus on stabilizing income expectations and reducing rigid expenditure pressures[19] Group 4: Future Policy Directions - The government aims to improve income distribution and social security systems to stabilize residents' income expectations and strengthen consumption capacity[23] - Enhancements to vacation policies are essential for activating long-term service consumption potential, with new regulations increasing holiday days starting January 1, 2025[20] - Coordinated policy measures are necessary to create a sustainable consumption environment, moving beyond short-term incentives to long-term structural improvements[23]

启动仪式上，蚂蚁集团战略发展部副总裁倪凡伟发布入境消费友好型商圈支持计划。支付宝国际版将为每位来鄂入境旅客提供近700元的优惠权益，覆盖机 场、酒店、火车站、商圈等消费场景，并为免签国家游客额外提供机票优惠券。 日前，国家移民管理局发布公告，中国240小时过境免签政策适用国家增至55国。越来越多境外旅客选择"中国购"。 湖北日报全媒记者 李朝霞 张灿 邓云 通讯员 赵晏永 今年3月，支付宝发布了湖北国际专版和Alipay 境外app武汉城市页。据蚂蚁后台数据统计，今年前5月，累计服务来鄂境外消费者数超16.27万人次，同比增 长46%；省内交易金额超1.24亿元，同比增长37%；交易笔数93.12万笔，同比增长25%；当前湖北省日均境外消费者数量排在全国第八。 当来华"三宝"——"免签、退税、支付宝"遇见湖北"三好"——"好吃、好玩、好开心"，会碰撞出什么样的火花？ 6月16日晚，由省商务厅、宜昌市人民政府主办，宜昌市商务局、夷陵区人民政府承办的第三届"乐购湖北616三好节"暨外贸优品走进宜昌活动启动仪式在宜 昌市举行。 此外，还将推出"线上"离境退税，不仅解决服务小语种游客沟通不便等问题，而且帮助湖北省首批 ...

深圳商报首席评论员胡蓉 今年第一季度，深圳接待游客4811.2万人次，其中入境游客突破800万人次，同比增长17.3%，国际旅游 收入增幅达30.6%。不过，将国外游客的流量转化为城市消费的增量，深圳还须努力。 在今年3月举行的商务部专题新闻发布会上，相关负责人透露，中国目前有五个国际消费中心城市，分 别是上海、北京、广州、天津和重庆。 作为一座年轻的城市，深圳在这方面确实无法与具有悠久历史的城市相比，但年轻态、未来感和科技范 也构成了深圳的特有优势。外国游客"扫货"华强北现象，让我们看到深圳同样可以打造出独属于自己的 入境消费热点。强化这一特点，以此为支点，再辅以更加优质便利的旅游和消费环境，深圳同样可以撬 动入境消费的"大蛋糕"。 看上去，外国人在华强北购买电子产品，只是简单的"银货两讫"，实际上，背后关联着产品的性价比、 入境的便利度、支付的无障碍甚至城市的吸引力。换句话说，就是能吸引多少外国游客到深圳来、来了 愿不愿意消费、消费有没有障碍等一系列环节，只要有一个环节存在堵点，都无法促成交易。 现在，外国人"扫货"华强北已成为一个热门话题，这足以证明深圳吸引境外游客消费有其独特的优势。 受益于中国240 ...

Group 1 - The concept of "China Tour" and "China Purchase" is attracting an increasing number of overseas consumers, highlighting the immense appeal of the Chinese consumption market [3][6][12] - The optimization of the departure tax refund policy and the high cost-performance ratio of Chinese products make "China Purchase" increasingly attractive to foreign tourists [6][9] - The diverse consumer demands from foreign tourists are driving the upgrade of China's consumption landscape, with a wide range of products being sought after [9][12] Group 2 - The convenience of the consumer service system, innovative local products, and rich consumption scenarios are key to expanding inbound consumption in China [9] - "China Purchase" has evolved beyond its economic significance, becoming a new symbol of China's openness and innovation to the world [12] - The surge in inbound tourist consumption is a testament to the resilience of the Chinese economy and its soft power, with Chinese brands gaining global recognition [12]

Core Viewpoint - The recent announcement by the Ministry of Commerce and five other departments aims to optimize the exit tax refund policy and expand inbound consumption, which is expected to stimulate a new round of high-level opening up and tap into China's consumption market potential [1] Group 1: Inbound Tourism and Consumption Growth - In 2024, inbound tourists are projected to reach 130 million, with inbound consumption expected to reach $94.2 billion, representing growth rates of 60.8% and 77.8% respectively compared to 2023 [1] - The implementation of visa-free policies and service facilitation measures is anticipated to boost inbound tourism, with 20.115 million foreign nationals expected to enter the country visa-free, marking a growth rate of 112.3% [1] - Specific regions, such as Beijing and Wuhan, are leveraging unique cultural attractions and events to draw international visitors, with Beijing expecting 3.942 million inbound tourists in 2024, a year-on-year increase of 186.8%, and Wuhan seeing a 2.3-fold increase in visa-free arrivals during the cherry blossom season [1] Group 2: Challenges and Solutions for Inbound Consumption - Current challenges include insufficient service capabilities at international transport hubs and inadequate international service support in certain regions or attractions [2] - To enhance the consumption service capabilities at international transport hubs, there is a push to develop integrated commercial functions at popular destination airports and to create duty-free complexes [2] - Improving the convenience of travel for foreign tourists is essential, including expanding the list of visa-free countries, optimizing regional visa policies, and promoting immediate tax refund services for shoppers [3] - The introduction of more quality inbound tourism routes and services, as well as the establishment of duty-free shops at eligible city ports, is encouraged to enhance the overall experience for inbound tourists [3]