Number of payments made by overseas visitors to China jumped 244.86 pc year.
The number of payments made by visitors to China saw a sharp increase while the total value of these payments also surged during the just-concluded May Day holiday, data released by the People’s Bank of China, the Chinese Central Bank, has shown.
According to data, based on payment transactions handled by China UnionPay and NetsUnion Clearing Corporation, the number of payments made by overseas visitors to China jumped 244.86 pc year on year during the holiday that ended Monday, with the total value of these transactions rising 128.04 pc, according to data from the People’s Bank of China.
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The growth in spending was accompanied by a rising number of foreign tourists in China during the period. China’s visa-free policies boosted inbound travel, with a total of 380,000 foreigners entering China under such arrangements during the holiday — up 72.7 pc year on year.
To attract international travellers, China has expanded visa-free policies to allow longer stays and wider travel within the country along with simplified visa procedures, and introduced new conveniences such as instant tax refunds for departing visitors.
Central bank data also revealed that the number of payment transactions handled by China UnionPay and NetsUnion in China during the holiday had totaled 23.44 billion, an increase of 20.49 pc year on year. The total value of these transactions reached RMB 7.64 trillion (USD 1.06 trillion), up 3.21 pc.
Meanwhile, the government of Special Administrative Region (SAR) of Macao says that, according to preliminary statistics, the SAR welcomed 849,819 visitors on May 1-5, a 40.7 pc increase compared to last year.
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It says that the average number of daily visitors was around 170,000, exceeding the 158,000 daily average from 2019, the office said, noting on May 2, the number of visitors reached nearly 222,000, setting a new record for the highest single-day visitor arrival since the pandemic.
Industry sources also revealed that the average hotel occupancy rate in Macao during the holiday period was 94.1 pc, an increase of five percentage points compared to last year.
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