BEIJING, Aug. 17 (Xinhua) -- A tax refund policy for overseas tourists has come into effect in Ningxia from August 1.
Ningxia has designated seven stores to go through tax refunds for the first phase, namely Yinchuan Wangfujing Department Store, Ningxia Guofang Department Store, Ningxia Hualian Department Store, Yinchuan Xinhua Department Store Business Group, Yinchuan Xinhua Department Store Chain Supermarket, METRO JinJiang Cash & Carry and Ningxia Bairuiyuan. At the same time, Bank of China’s Ningxia branch would serve as tax refund agency.
Ningxia received 14.89 million tourists in the first half of 2017, up by 21.52 percent, generating revenue of 12.5 billion yuan, up by 20.8 percent. The tax refund policy is expected to boost regional tourism and local brands while propelling the growth of financial, logistics and trade industries, thereby supporting inland regions’ participation in the Belt and Road Initiative. (Edited by Tong Wei)
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