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Shanghai's tax refund policy for foreigners saw sales surge 150% during the May Day holiday.
During the May Day holiday, Shanghai saw a 150% increase in sales under its departure tax refund policy for foreigners, up from last year.
This surge follows China's recent policy changes, including lowering the refund eligibility threshold from 500 yuan to 200 yuan.
Traditional food and retail sectors, such as Taikang Foods and Shao Wan Sheng, are now participating, transforming Nanjing Road into a tax-free shopping area with 45 refund stores.
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La política de reembolso de impuestos de Shanghái para los extranjeros hizo que las ventas aumentaran un 150% durante las vacaciones del Primero de Mayo.