(Yicai Global) Dec. 7 -- China's Guangxi Zhuang Autonomous Region will institute a tax refund policy for foreign visitors starting from Dec. 11 that will cover garments, shoes and hats, cosmetics, jewelry, clocks and watches, electric appliances, stationery, sports goods and 13 other product categories.
The refund is 11 percent, the government announced at a press conference in the regional capital of Nanning yesterday.
A departure tax refund is a return of duties foreign tourists pay when buying in designated stores goods that they take with them when they leave China, per the policy. The refund is now available in 25 Chinese provinces and cities, including Beijing, Shanghai and Tianjin, Securities Times reported.
To qualify, overseas visitors must meet the following requirements. The same visitor must pay CNY500 (USD73) on one day in a designated store and the goods may not be used or consumed. Departure must be within 90 days after buying the products, which must be carried on or checked by the visitor purchasing them.
With its storybook karst limestone scenery, Guangxi is endowed with abundant tourism resources that fuel the sector's swift development. It hosted 523 million domestic and international tourists last year in annual 28 percent growth. It also created corresponding consumption of CNY558 billion (USD81 billion) in total value, up 33 percent annually.
The region greeted 5.12 million inbound visitors last year who spent more than one day (slept over), a rise of 6.2 percent on 2016, while outlays in foreign currency hit USD2.4 billion, growing almost 11 percent annually, official data released yesterday show.
Editor: Ben Armour