China's tax refund stores top 10,000

BEIJING -- The number of tax refund stores catering to foreign visitors in China had exceeded 10,000 by the end of August, data from the State Taxation Administration showed on Wednesday.

In the first eight months of the year, the number of tourists claiming tax refunds jumped 247.8 percent year-on-year, while sales of tax-refundable goods and total refund amounts surged 97.5 percent and 96.9 percent, respectively, the data showed.

The departure tax refund measures, which enable overseas tourists to claim back value-added tax on eligible purchases made at designated tax refund stores before leaving China, are translating growing inbound travel flows into consumption momentum and emerging as a fresh driver for inbound tourism spending, the administration said.

China began implementing the departure tax refund policy for overseas travelers in 2015. Since then, the scale of departure tax refunds has continued to grow year by year, benefiting an increasing number of overseas travelers.

In April this year, the country introduced a package of measures to optimize the policy, including lowering the minimum purchase threshold for refunds, raising the cash refund ceiling, expanding the network of participating stores, and broadening the range of products covered.