In H1 2025, Shanghai issued nearly 90,000 tax refund applications for over 63,000 outbound travelers from 167 countries. Sales under the city’s “instant refund” system, where tourists receive on-the-spot cash refunds, rose 28-fold YoY. The number of refund-eligible stores has grown to over 1,400. New policies introduced in April raised the refund cap to 20,000 RMB ($2,789) and lowered the threshold to 200 RMB ($28), broadening access. Businesses such as local designer platform Labelhood and factory outlets have joined the program, while shopping centers like Hang Lung Plaza have seen refund-driven sales surpass 400 million RMB ($55.8 million). The city now operates 17 centralized refund service points with self-service terminals and Alipay refunds.