The first cruise ship visiting Shanghai in 2025 arrived at the Shanghai Port International Cruise Terminal on Wednesday, carrying more than 400 passengers from around the world.
On May 15, 2024, China's National Immigration Administration rolled out a visa-free entry policy for foreign tourist groups entering China on cruise ships, and increased the number of cruise ports eligible for visa-free entry to 13. In December, the administration introduced a 240-hour transit visa-free policy, and added 21 entry and exit ports for those entering under the new policy.
"More than 95 percent of the passengers on this cruise ship are applicable to various visa exemption policies. For example, more than 300 passengers, representing over 93 percent, are applicable to the 15-day visa exemption for cruise groups, while some passengers are eligible for visa-free entry into China or the 240-hour transit visa exemption. It can be said that the visa exemption policies have greatly benefited our cruise inbound tourism market," said Ma Yingjie, an officer at the Pujiang border inspection station under the Shanghai General Station of Immigration Inspection.
The passengers on the cruise ship Silver Dawn come from different countries including the United States, Australia, the United Kingdom and Germany. During the two-day stay, they will visit the Bund, the Oriental Pearl Tower, the Shanghai Museum, the National Exhibition and other places to personally feel the unique charm of Shanghai.
"Today we are going to the Water Town, and then we're back. We hope to explore the evening here the night in Shanghai. Tomorrow we are going to [eat] the dumplings," said a Swiss tourist.
According to statistics, Shanghai ports recorded 1.3759 million visits by cruise passengers in total in 2024. It is expected that the city will see more than 20 cruise ship visits in 2025.
Shanghai receives 1st visiting int'l cruise ship of 2025
Shanghai receives 1st visiting int'l cruise ship of 2025
U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.
The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.
Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.
Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.
Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.
In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.
Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.
U.S. stocks close higher amid criminal probe into Fed chair Powell
