China has recently announced a decrease in the minimum purchase requirement for foreign tourists to claim tax refunds, reducing it from 500 yuan to 200 yuan. Additionally, the maximum rebate limit has been raised to 20,000 yuan. The Chinese government’s objective behind this decision is to encourage more tax refund shops and streamline the refund process, ultimately aiming to stimulate domestic consumption. The new policy is expected to attract more foreign tourists to shop in China and avail of tax refunds, thus boosting the country’s retail sector. The move comes as part of China’s broader efforts to revitalize its economy and promote spending within the country.