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Opportunities abound as China's visa-free policies boost tourism: EU business leader

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Opportunities abound as China's visa-free policies boost tourism: EU business leader

2025-07-24 16:06 Last Updated At:19:27

China's expanded visa-free policies and the growing number of opportunities in some smaller cities across the country are helping boost cooperation with Europe, according to a European business official.

Adam Dunnett, Secretary General of the European Union Chamber of Commerce in China, highlighted the increasing potential for ties between the two sides in an interview with the China Global Television Network (CGTN) on Wednesday.

He was speaking as EU leaders including President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen met with Chinese President Xi Jinping in Beijing on Thursday, with the 25th China-EU Summit also set to take place the same day.

Dunnett praised China's expanded visa-free policy for encouraging more European visitors to enter the country and enhancing cultural exchanges, calling it a "bright spot" in terms of relations.

The visa-free entry policy, which allows short-term stays of up to 10 days for the citizens of around 54 countries, is part of China's broader effort to attract foreign investment and drive tourism.

"On the visa situation, that is a bright spot. It's great. Many Europeans are taking advantage of it. I've got lots of colleagues and friends that are coming from Europe this summer that don't have to apply for visas. And as I said at the very, very beginning, one of the most important things is having more exchanges and having people coming to China, and that's a great way of making that happen," said Dunnett.

While a number of European companies already have a considerable presence in major cities like Beijing and Shanghai, Dunnett also pointed to the growing number of opportunities in some of China's fast-growing second- and third-tier cities.

He noted there is significant scope in terms of tourism and product marketing in some of these lesser known locations, and described the trend as a fresh window for EU-China cooperation amid shifting consumption trends.

"I see huge potential in the tourism industry here in China. You've built the infrastructure, you have the hotels, you've opened up the visas. We could probably improve the slots for European companies and aviation airlines to come back to China because that's decreased. But I think there's huge potential. And for a lot of companies, you're right, the product marketing has a real potential, I think, in second and third-tier cities. And that's an opportunity for more cooperation," said Dunnett.

Opportunities abound as China's visa-free policies boost tourism: EU business leader

Opportunities abound as China's visa-free policies boost tourism: EU business leader

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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