The Shanghai Wusongkou International Cruise Terminal welcomed a record number of foreign tourists on Sunday as two large international cruise ships docked at the port.
The ships -- AIDAstella of AIDA Cruises and Spectrum of the Seas, operated by Royal Caribbean International -- brought nearly 4,800 foreign tourists to the east China metropolis, marking the highest single-day arrival of international visitors since the terminal opened in 2011.
AIDAstella made its maiden call at the terminal on Sunday. Operated by AIDA Cruises, which primarily serves European markets, the ship is carrying approximately 2,200 foreign tourists -- mainly from Germany and Poland -- on a 14-day voyage that departs from Bangkok and includes stops in Vietnam, Japan, and China's Hong Kong, Taiwan, and Shanghai.
Spectrum of the Seas, which operates out of Wusongkou as its home port, is carrying about 2,600 foreign tourists on this cruise.
"It's our first time here in Shanghai, and we're curious to see the modern city, and the kindness of the people," said Vanessa, a German tourist.
According to local immigration officials, nearly a third of arriving visitors applied for 240-hour visa-free transit, while around 60 percent entered China under the unilateral visa-free policy.
"I have to say that the visa-free policy is what makes travel easy and fast. Especially our passengers -- they like to explore the country, they like to get to know everyone and the culture -- so they will all be ready on the gangway in the morning, and it’s very easy if we don't have to apply for a visa," said Jan Peter Lindner, captain of AIDAstella.
Shanghai is one of the major ports through which international travelers enter China.
Many of these visitors continue on to neighboring provinces.
"I was curious about the Chinese culture, and I wanted to know how people live their lives over the years. I'm really happy to be here," said Malik, a Pakistani tourist in east China's Zhejiang Province.
China's visa exemption policy was launched in December 2023 and has been extended several times since.
Currently, it allows passport holders from 38 countries to visit China for up to 30 days without a visa.
In 2024, more than 20 million inbound foreign trips to China were made visa-free -- more than double the number from the previous year.
Shanghai sees record single-day arrival of foreign tourists via cruise ships
U.S. stocks ended mixed on Wednesday, with the S and P 500 and Nasdaq Composite rising to fresh all-time highs, as investors remained hopeful about progress toward a U.S.-Iran peace deal.
The Dow Jones Industrial Average fell 0.15 percent to 48,463.72. The S and P 500 added 0.8 percent to a new record close of 7,022.95. The Nasdaq Composite Index rose 1.59 percent to 24,016.02, extending its winning streak to 11 consecutive sessions.
Seven of the 11 primary S and P 500 sectors closed lower, with materials and industrials leading the laggards at declines of 1.3 percent and 1.24 percent, respectively. Technology and consumer discretionary were the top performers, rising 2.08 percent and 1.37 percent.
Stocks have rallied strongly this week on hopes that a deal between the United States and Iran may materialize. U.S. President Donald Trump offered further encouragement, telling Fox Business in an interview on Wednesday that the Iran war is "very close to being over."
Broadcom was among the session's standout performers, rising 4.19 percent after Meta Platforms announced an extension of their partnership to deploy custom chips based on Broadcom's technology.
Meanwhile, the U.S. economy grew at a "slight to modest pace" over the past six weeks, even as consumers faced higher prices and increasing demand for assistance, according to the Federal Reserve's Beige Book released Wednesday. The report, covering the 12 Fed districts, described the Iran war as "a major source of uncertainty" for businesses. Price growth was characterized as "moderate," despite a sharp rise in energy and fuel costs.
"Many Districts continued to report signs of consumer financial strain, increased price sensitivity, and rising demand at food banks and other social service organizations, while spending among higher-income consumers was resilient," the Beige Book stated.
Shares of all the "Magnificent Seven" technology giants ended higher except for Amazon, led by a 7.62 percent surge in Tesla.
Bank of America rose nearly 2 percent and Morgan Stanley advanced 4.52 percent after reporting better-than-expected quarterly results. Goldman Sachs kicked off bank earnings season on Monday, followed by Wells Fargo, JPMorgan Chase and Citigroup on Tuesday.
Snap Inc. surged nearly 8 percent after the company announced it would lay off approximately 16 percent of its global workforce, with its CEO Evan Spiegel citing "rapid advancements in artificial intelligence" as a key factor.
U.S. stocks close mixed with S and P 500, Nasdaq hitting record highs
