China issues tax refund policies for foreign tourists to boost inbound consumption

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China to expand tax reimbursement stores in key areas, a lower minimum reimbursement point for foreign travelers to boost the economy | Photo credit: Reuters

China said Sunday that will improve tax reimbursement policies so that foreign tourists promote entry consumption, part of the efforts to boost the economy as domestic demand remains warm.

China will promote the expansion of tax reimbursement stores in commercial areas, scenic places, airports and hotels, according to a statement published together by the Ministry of Commerce and other departments.

The minimum reimbursement point for a traveler abroad in the same tax reimbursement store on the same day will be reduced to 200 yuan ($ 27.45) of 500 yuan before, according to the statement. ($ 1 = 7,2864 Yuan Renminbi Chino)