ALL international visitors – including those from Taiwan, Macau and Hong Kong – in Shanghai will now be able to save nine percent on purchases following the implementation of a new tax-free shopping scheme.
Duty-free shopping provider Global Blue partnered with Bank of Shanghai to make possible the service.
In the early stages of the project, over 200 shops have signed up to the scheme including major departmental stores such as Parkson, Takashiyama, and Pacific, as well as luxury and designer stores like Chanel, Tiffany, and Louis Vuitton.
Tax refunds on goods – such as fashion and beauty items, jewelry, and beauty products – taken out of the country in travelers’ personal baggage can be claimed at the airport.
To claim their refunds, travelers are required to visit the customs desk at the airport and present their tax forms, invoices, receipts, and passport.
According to TTG Asia, the minimum purchase to qualify for a refund is RMB500 (about US$72.50).
In a separate report published in August, plans are underway to mold Shanghai into the world’s leading “global city” by 2040. This means that the city has ambitious goals to become the world’s leading economic, innovation and cultural center.
Specifically, the city wants to handle about 160-180 million passengers annually of which 20 percent will be connecting passengers, and 40 percent will be international tourists.
It also plans to nearly double passenger traffic at Shanghai Pudong International Airport and the smaller Shanghai Hongqiao International Airport by 2040.