Shopping in China to become more favorable for foreign tourists
Shopping in China is set to become more enjoyable. The Ministry of Commerce of the People's Republic of China has announced measures to stimulate consumer activity among foreign tourists. At a press conference on Tuesday, a representative of the ministry outlined the "Visit China, Shop China" program, which includes an increase in the number of duty-free shops, as well as a simplification of the VAT refund procedure for non-residents.
Promotional activities await purchasers of environmentally friendly, smart, and medical products. The Ministry of Commerce also reported on the implementation of the state trade-in subsidy program, the funding for which has been doubled this year to forty billion dollars. The number of applications for the exchange of old vehicles under this program has exceeded 1.5 million since the beginning of the year.
Chinese consumers have upgraded more than 2.2 million electric bicycles, 28 million units of household appliances, and over 56 million mobile digital devices. All of this has positively impacted retail sales, which grew by 4% year-on-year in January-February. The ministry pledges to enhance the effectiveness of the program.
Li Gang, Director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce of the PRC, stated: "We will ensure the effective implementation of subsidy programs, strengthen monitoring and optimization of convenience for citizens, improve recycling chains, and also intensify information efforts so that "real money” reaches consumers faster and more conveniently.
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