Shanghai targets foreign tourists to boost economic consumption

Shanghai is implementing new strategies to attract foreign tourists to stimulate its economy, a move highlighted by the recent high-profile visit of actors Zendaya and Tom Holland to the city. The couple’s sightseeing and shopping activities in Shanghai generated significant online engagement in China, drawing attention to the trend of inbound international travel.

In its latest five-year plan for international trade, the Shanghai municipal government aims to nearly quintuple tax-free merchandise sales to inbound visitors. The city recorded 4.28 billion yuan (US$636.8 million) in tax-refund sales last year and targets approximately 20 billion yuan by 2030. To achieve this, officials plan to simplify tax-refund processes, optimize multilingual signage, and expand foreign card payment services and currency exchange facilities.