Core Insights - The trend of inbound consumption in China is on the rise, driven by policies such as expanding visa-free access and optimizing tax refund processes for departing tourists [3][10] - In 2024, the number of inbound tourists is projected to reach 131.9 million, a year-on-year increase of 60.8%, with total spending expected to hit $94.2 billion, reflecting a 77.8% growth [3][6] - The potential for growth in inbound consumption is significant, with its contribution to China's GDP currently at about 0.5%, compared to 1% to 3% in major global economies [7][10] Inbound Consumption Growth - From January to September this year, the number of foreign tourists benefiting from tax refunds increased by 229.8%, with the total refund amount rising by 97.4% [6] - The development of international consumption centers and the expansion of inbound consumption are expected to enhance domestic commercial and cultural tourism quality, boosting the international profile of cities [10][11] Supporting Policies - Policies aimed at integrating duty-free shops with cultural and tourism resources are being implemented to create attractive "shopping + tourism" experiences for inbound tourists [11] - The Ministry of Commerce plans to expand the list of visa-free countries, improve tax refund services, and develop international consumption hubs and friendly shopping districts to enhance the shopping experience for foreign visitors [11][13]