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The Ministry1 of Finance has announced the preferential policy to offer overseas tourists a rebate2 of 11-percent on consumer goods purchased at designated stores.
Foreign tourists and those from Hong Kong, Macao and Taiwan who visited the Chinese mainland for no more than 183 days can now enjoy the benefit.
The refund will be paid in Renminbi and can be transferred to the buyer's bank account.
外国游客来华消费可获退税
Zhao Ping, a senior researcher of consumption economy with the Ministry of Commerce, says the plan is designed to boost the domestic economy.
"In regard to expanding consumption, we should not only rely on domestic consumers. The tax rebate is aimed at attracting more overseas tourists and encouraging them to spend more money in China. Also, the policy is a very international and standardized4 practice. I think China as a big economy, it is a must-be choice when our economic development and internationalization have reached a certain level."
Saleem, a tourist from Pakistan, backs the idea.
"I heard that the Chinese government is planning to launch the tax rebate scheme. I believe it would be very attractive to Pakistanis. I think Pakistani tourists would be very interested in the fast-moving consumer goods such as China's electronic products and clothes, especially children's apparels. I believe there will be more Pakistanis travel to China once the scheme is put into effect."
China first introduced a pilot tax refund program on the island province of Hainan in 2011.
Zhao Ping estimates it will take six to 12 months for the new policy to reach the public.
Meantime, more compatible policies are needed to keep up the pace.
Customs, banks, business entities6, and foreign exchange management agencies are involved in the tax-refund program.
For CRI, I am Qizhi.
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1 ministry | |
n.(政府的)部;牧师 | |
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2 rebate | |
v./n.折扣,回扣,退款;vt.给...回扣,给...打折扣 | |
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3 refund | |
v.退还,偿还;n.归还,偿还额,退款 | |
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4 standardized | |
adj.标准化的 | |
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5 applied | |
adj.应用的;v.应用,适用 | |
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6 entities | |
实体对像; 实体,独立存在体,实际存在物( entity的名词复数 ) | |
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