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flag Shanghai's inbound tourism and tax refunds soared in 2025, fueled by new stores, global brands, and digital shopping.

flag Shanghai has surged as a global shopping destination, with inbound tourism reaching 9.36 million passenger trips in 2025, a 39.58% increase from 2024. flag Tax refund applications by overseas travelers rose 156.3% year-on-year through November, with eligible sales and refunds both up about 80%. flag The city added over 1,000 new tax refund stores by November, totaling more than 1,700—double the previous year. flag Landmark openings like Louis Vuitton’s “The Louis” on West Nanjing Road attracted shoppers from 87 countries, driving a 700% rise in tax refunds at HKRI Taikoo Hui, where nearly 50 stores now offer refunds. flag Digital payments, immersive experiences, and targeted marketing are key to sustaining growth.

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