Int'l tourists commend shopping experiences in Shanghai

International tourists traveling to Shanghai, one of the most popular inbound travel destinations in China, have spoken highly of their experiences with the country's multiple preferential measures including visa-free and tax refund policies.

In Shanghai's downtown area of Huangpu District, the Tianzifang neighborhood attracts visitors from around the world. The vibrant streets, adorned with colorful decorations and lined with boutique shops, offer a glimpse of old Shanghai life and a wide range of unique souvenirs, attracting the attention of international consumers.

Since the introduction of the "buy and refund" departure tax refund service in April, many foreigners have been flocking to China in groups for shopping.

"We want shopping here. We'll buy silk scarves and other tourists' souvenirs. We were here nine years ago, I saw a change from nine years ago, and without visas, it is much easier for us to travel here," said Petra Gruen, a tourist from Germany.

"Made in China" electronics including mobile phones and computers are also on the shopping lists of foreign visitors.

"Actually, here you can find every technology that you want. You can find a lot of things that you will never imagine. So, I believe that it's really good for the foreigners to come here to Shanghai," said Sergio Rendon, a tourist from Mexico.

Shanghai has seen a significant increase in the number of inbound foreign tourist visits since the entry into effect of the country's latest 240-hour visa-free transit policy at the end of last year. The city received over 1.743 million tourist visits in the first three months of this year, marking a 37.1 percent year-on-year growth, according to the Shanghai Municipal Bureau of Culture and Tourism.

Currently, China grants unilateral visa-free entry to 38 countries and has extended the transit visa-free period to 240 hours for travelers from 54 countries.

China has also introduced a new policy recently that enables foreign visitors to claim departure tax refunds for purchases as low as 200 yuan (about 27.5 U.S. dollars) per day at the same store, significantly reducing the previous threshold of 500 yuan (68.8 U.S. dollars).

As one of the pilot cities for the "buy and refund" departure tax refund policy, Shanghai currently has 587 departure tax refund shops, with 284 offering instant tax refunds.

China's foreign exchange market remained generally stable in February despite heightened geopolitical tensions and increased volatility in international financial markets, the country's forex regulator said on Monday.

The Chinese foreign exchange market recorded transactions worth 2.6 trillion U.S. dollars in February, while cross-border receipts and payments by non-banking sectors totaled 1.2 trillion dollars, according to the State Administration of Foreign Exchange. In February, non-banking sectors recorded a net inflow of 35.6 billion dollars in cross-border capital, while banks posted a forex settlement surplus of 42.8 billion dollars, the data showed.

Overall, China's foreign-related economy is developing steadily, the foreign exchange market remains active, corporate forex settlement willingness has shown a modest decline, and demand for forex purchases is generally stable, with market expectations remaining steady, the administration said.