China's improvements in cross-border payment interconnection have greatly enhanced the payment experience for overseas visitors and further unlocked the consumption potential of inbound tourism, according to a report released by the China Internet Network Information Center (CINIC) on Thursday.
In 2025, China's online payment transaction volume remained high, and in particular, breakthroughs were achieved in cross-border payment connectivity, showed CINIC's 57th Statistical Report on China's Internet Development.
Under the guidance of the People's Bank of China (PBOC), the country's central bank, the unified cross-border QR code payment network began its trial operation at the end of July 2025, enabling visitors from some countries and regions to use their local e-wallets to complete payment by scanning QR codes at stores in China.
Driven by booming inbound tourism in 2025, China UnionPay launched the "Nihao China" application to serve as a core hub for cross-border payment.
The application is compatible with international cards such as Visa and Mastercard, covers tens of millions of merchants across various industries, including transportation and accommodation, and supports real-time conversion of more than 160 currencies.
Moreover, the international version of Chinese payment service platform giant Alipay has partnered with 40 e-wallets across the Asia-Pacific region, enabling consumers to use applications of their countries to directly complete payment overseas across 150 million stores.
The facilitation of payment has not only unleashed the potential of inbound consumption, but also enhanced the attractiveness of inbound tourism to China, said experts.
"By making payment more convenient, we can solve all the consumption obstacles for inbound tourists. At the same time, solving these obstacles or improving convenience will become an important part of their overall consumption experience in China," said Li Mingtao, chief e-commerce expert at the China International Electronic Commerce Center.
Improved cross-border payment unlocks inbound tourism consumption potential: CINIC report
China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.
In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.
"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.
This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.
By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.
China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.
The minister said that China has always been a firm supporter and an important contributor to APEC.
"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.
China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting
