分类： business

China is strategically positioning itself as a premier shopping destination for international tourists through a series of policy enhancements aimed at improving the visitor experience. Key among these measures is the optimization of the instant tax refund policy, which now allows foreign visitors to initiate tax refund claims directly at the point of sale in major retail outlets. This logistical simplification has significantly reduced friction for consumers, making shopping a primary motivation for overseas tourists visiting the country, according to experts and executives.

The minimum purchase threshold for departure tax refunds has been lowered to 200 yuan ($27.75) at the same store on the same day, as announced by the Ministry of Commerce in April. This change has made it easier for international travelers to take advantage of tax refunds, further incentivizing shopping in China. High-tech gadgets, particularly drones and advanced smartphones, are among the most popular purchases, reflecting a shift in consumer preferences towards innovative and high-value products.

Luo Yao, store manager of drone maker DJI at Beijing APM, noted that their store has become a destination in itself, with foreign visitors often arriving with clear intent to purchase. Luo highlighted that foreign customers, primarily from the United States, Singapore, and Russia, frequently visit in family or friend groups, and the store provides assistance with pricing, tax refunds, and hands-on product testing to simplify the shopping experience.

Wan Zhe, a professor specializing in regional economic development at Beijing Normal University, observed that international travelers’ demand for Chinese goods has evolved from a focus on low cost to an appreciation for superior value and innovation. This transition has been further fueled by protectionist policies in certain Western nations, which have inflated domestic consumer costs, making Chinese alternatives not only cheaper but also smarter and more efficient choices.

The expansion of China’s visa-free entry policies has also played a pivotal role in boosting shopping-focused tourism. The National Immigration Administration reported that from July to September, foreign nationals accounted for 7.24 million visits to China under its visa-free policies, marking a 48.3 percent year-on-year increase. The visa-waiver program now grants entry to nationals of 76 countries and provides up to 10-day transit visas for travelers from 55 more, streamlining access for a growing number of international visitors.

These strategic initiatives underscore China’s commitment to enhancing its appeal as a global shopping hub, leveraging policy upgrades and innovative products to attract and satisfy international consumers.

China is embarking on an ambitious two-year pilot program to transform approximately 15 cities into world-class consumption hubs, aiming to attract overseas tourists and elevate the country’s retail and service standards. The initiative, led by the Ministry of Finance and the Ministry of Commerce, seeks to refine China’s consumption ecosystem to meet international benchmarks, thereby driving product and service upgrades and fostering sustainable economic growth.

Toyota Motor Corporation reported a 7% year-on-year decline in net profit for the April-September period, attributing the downturn to the impact of U.S. tariffs on Japanese automakers. The company’s net profit for the six-month period stood at 1.77 trillion yen ($11.5 billion), down from 1.9 trillion yen in the same period last year. Despite these challenges, Toyota has revised its full-year profit forecast upward to 2.93 trillion yen ($19 billion) for the fiscal year ending March 2026, citing improved vehicle sales and cost-cutting measures. This revised forecast, however, still represents a 38.5% drop from the previous fiscal year’s profit of 4.77 trillion yen. Earlier, Toyota had projected a profit of 2.66 trillion yen ($17 billion) for the current fiscal year. The U.S. tariffs on Japanese automobiles and auto parts, which were reduced to 15% in September from an initial 27.5%, continue to weigh heavily on the company’s performance. Nevertheless, Toyota reported growth in vehicle sales in both the U.S. and Japan, with North American sales exceeding 1.5 million units and Japanese sales reaching 970,000 units during the six-month period. The company’s first-half sales increased by 5.8% to 24.6 trillion yen ($160 billion), while quarterly profit for the period through September surged 62% to 932 billion yen ($6 billion) on sales of 12.38 trillion yen ($80 billion), an 8% year-on-year increase. Toyota remains optimistic, stating that its strategic initiatives, including enhanced sales, cost efficiencies, and value chain improvements, are expected to contribute over 900 billion yen ($5.8 billion) to its bottom line this fiscal year.

Hong Kong is poised to deepen its financial and economic collaboration with mainland China, aligning with the country’s 15th Five-Year Plan (2026-30) to enhance global financial governance reform. Vice-Premier He Lifeng emphasized this strategic alignment during his address at the fourth Global Financial Leaders’ Investment Summit, hosted by the Hong Kong Monetary Authority. The summit, themed ‘Trekking through Shifting Terrain,’ gathered over 300 global financial leaders to discuss emerging trends, opportunities, and risks in a rapidly evolving geopolitical and technological landscape. He highlighted Hong Kong’s pivotal role in fostering a fair, just, and inclusive international economic order, as envisioned by President Xi Jinping’s Global Governance Initiative. Hong Kong Chief Executive John Lee Ka-chiu underscored the city’s financial market growth and fintech advancements, noting a 30% year-to-date surge in the stock market and record-breaking IPO activity. Regulatory efforts are also underway to support digital asset development, including asset tokenization and cross-border payment innovations. Mainland financial regulators, including representatives from the People’s Bank of China and the National Financial Regulatory Administration, reiterated the importance of financial market integration, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area. The China Securities Regulatory Commission further pledged to deepen cooperation between mainland and Hong Kong capital markets, fostering a virtuous interaction between onshore and offshore development. Amid macroeconomic uncertainties, Hong Kong Monetary Authority Chief Executive Eddie Yue Waiman urged financial leaders to remain vigilant and proactive in navigating market dynamics.

China’s commitment to advancing reform and development through higher-level opening-up is set to unlock new opportunities for multinational corporations and trading partners, according to business leaders and market analysts. This strategic focus, outlined in the Recommendations of the Central Committee of the Communist Party of China for the 15th Five-Year Plan (2026-30), emphasizes institutional opening-up, safeguarding the multilateral trading system, and promoting international economic flows. These measures aim to spur new growth drivers and enhance resilience against global risks such as protectionism and geopolitical uncertainties. A communique issued after the fourth plenary session of the 20th CPC Central Committee highlighted China’s intention to open wider to the world, innovate trade practices, expand two-way investment cooperation, and pursue high-quality Belt and Road initiatives. Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation, noted that these efforts will attract quality foreign investment and strengthen global confidence in China’s development. Foreign business leaders, including Poh-Yian Koh of FedEx and Jens Eskelund of the European Union Chamber of Commerce in China, expressed optimism about the policy directions, citing potential for expanded market access and a more enabling business environment. Companies like Kone Corp and ABB Group are also leveraging China’s urbanization and energy transition strategies to deepen their investments and innovation capabilities. China’s foreign direct investment (FDI) in the first three quarters of 2025 reached 573.75 billion yuan ($80.68 billion), with significant increases from key trading partners. Despite global economic challenges, China remains a stabilizing force and a key growth engine for the global economy.

Global financial markets experienced significant turbulence on Wednesday, triggered by a sharp decline in Big Tech shares on Wall Street. The ripple effects were felt across Europe and Asia, with major indices initially plunging before partially recovering. Tokyo’s Nikkei 225 index, which had plummeted nearly 5% during the day, managed to pare losses to close 2.5% lower at 50,212.27. Similarly, European markets saw declines, with Germany’s DAX dropping 0.7% and France’s CAC 40 shedding 0.4%. The UK’s FTSE 100 edged 0.1% lower. In the U.S., futures for the S&P 500 slipped 0.1%, while the Dow Jones Industrial Average futures inched 0.1% higher. The tech-driven sell-off was particularly pronounced in Asia, where SoftBank Group’s shares tumbled 10% amid concerns over its artificial intelligence investments. Other tech giants, including Tokyo Electron and Advantest Corp., also saw significant declines. Toyota Motor Corp. reported a 7% drop in profits for the April-September period but raised its annual earnings forecast despite U.S. tariff pressures. South Korea’s Kospi fell 2.9%, driven by losses in Samsung Electronics and SK Hynix. Chinese markets showed mixed performance, with the Shanghai Composite edging 0.2% higher while Hong Kong’s Hang Seng dipped 0.1%. The tech sector’s volatility has been a key driver of market movements this year, with companies like Nvidia and Microsoft exerting outsized influence. Gold prices, often seen as a safe haven, rose 0.8% to $3,990.90 per ounce amid the uncertainty. Analysts described the sell-off as a ‘reality check’ for markets that had been riding a prolonged rally. Wall Street remains focused on corporate earnings, with most S&P 500 companies surpassing expectations. However, the U.S. government shutdown has added to the uncertainty, leaving investors without crucial economic data. Tesla shares fell 5.1% after Norway’s sovereign wealth fund opposed a controversial compensation package for CEO Elon Musk. In commodities, U.S. benchmark crude oil and Brent crude both declined by 14 cents per barrel.

Online retail giants Shein, Temu, AliExpress, and Wish are under investigation in France for allegedly enabling minors to access pornographic content on their platforms, the Paris prosecutor announced on Tuesday. The probe follows a report by the country’s consumer watchdog, which raised concerns over the sale of childlike sex dolls on Shein’s platform. The watchdog referred the matter to the prosecution service on Sunday. The Paris prosecutor’s office confirmed that the platforms are being scrutinized for hosting violent, pornographic, or ‘undignified messages’ accessible to minors. AliExpress responded by stating it takes the issue seriously and has removed the offending listings, while Shein announced a global ban on the sale of all sex dolls and stricter platform controls. The French consumer watchdog highlighted that the descriptions and categorizations of the sex dolls left ‘little doubt as to the child pornography nature’ of the products. The investigation coincides with Shein’s launch of its first permanent physical outlet in Paris on Wednesday, amidst protests. The company, founded in China, also plans to expand its presence in other French cities, including Dijon, Reims, and Angers.