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China Issues Tax Refund Policies for Foreign Tourists to Boost Inbound Consumption

People walk in the Central Business District (CBD) area in Beijing in Beijing, China, 24 April 2025. EPA/WU HAO
People walk in the Central Business District (CBD) area in Beijing in Beijing, China, 24 April 2025. EPA/WU HAO
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China Issues Tax Refund Policies for Foreign Tourists to Boost Inbound Consumption

People walk in the Central Business District (CBD) area in Beijing in Beijing, China, 24 April 2025. EPA/WU HAO
People walk in the Central Business District (CBD) area in Beijing in Beijing, China, 24 April 2025. EPA/WU HAO

China said on Sunday it will improve tax refund policies for foreign tourists to boost inbound consumption, part of efforts to boost the economy as domestic demand remains tepid.

China will promote the expansion of tax refund stores in shopping areas, scenic spots, airports and hotels, according to a statement released jointly by the commerce ministry and other departments.

The minimum refund point for one overseas traveler in the same tax-refund shop on the same day will be lowered to 200 yuan ($27.45) from 500 yuan before, the statement said.

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Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
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Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported.
The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030.
Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods.
The visit reflects Saudi Arabia’s continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.