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China: China moves to facilitate payments for inbound travelers

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Storyline: China moves to facilitate payments for inbound travelers [Voice_over] China's National Day, which kicks off "Golden Week" is one of the world's biggest travel festivals. In 2024, domestic trips topped 826 million, with spending of more than 754 billion yuan — about 103 billion US dollars. Foreign arrivals are also surging. In Q3 2024, inbound trips reached 8.2 million — up almost 49 percent year-on-year — with more than half made visa-free. By year's end, more than 20 million travellers had entered China without visas, double 2023. But once inside China, travellers can still face hurdles — from booking tickets, to language barriers, to making payments. [Sound_bite] Tang Huiying, Chairwoman of FITT China Travel: "One problem foreigners can face is booking train and other tickets. Domestic systems are usually only in Chinese, so in these areas travellers still find it inconvenient at times." [Voice_over] And in a country where mobile wallets dominate daily life, making payments can be tricky. [Sound_bite] Tang Huiying, Chairwoman of FITT China Travel: "The main issue is payments. Alipay and WeChat can link to foreign cards, and for smaller payments,this works great, but getting set up with this is hard for some, and fees on larger sums can be high." [Stand_up] Peter Oliver, Reporter: "The message from the heart of Europe's financial capital is clear: if China wants more tourists visiting during Golden Week,filling suitcases with shopping,then making it easier for them to spend euros when they come to China, could be the big difference between browsing and buying." [Voice_over] That's the idea behind the new SplendorPlus debit card, launched this week in Frankfurt. Issued by Bank of China with UnionPay, it's designed for foreign visitors — letting them link the card to a foreign bank account and spend directly in China's cashless system without needing a local bank account or app. [Sound_bite] Chen Longjian, General manager, Bank of China, Frankfurt Branch: "This represents a full product upgrade, and will play an active role in improving payment convenience, promoting RMB internationalization, and sharing Chinese culture and image." [Voice_over] Beijing is hoping for a boom in shopping tourism. In April this year, officials cut the tax refund threshold to just 200 yuan per store per day, and pledged to expand refund outlets in malls, scenic sites and airports. Visa-free entry has already opened the door. The next step is making sure travellers can book, pay and shop with ease. With these wrinkles ironed out, Golden Week could cement China's place not just as a destination to visit — but as one of the world's top places to shop. [Restrictions : No access Chinese mainland]

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