The potential of inbound tourism continues to be unleashed, and listed companies are迎来 a new development opportunity

Securities Daily Reporter Li Wenshan Intern Reporter Zhang Meina

According to CCTV News, on March 8th, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, introduced at the Fourth Session of the 14th National People’s Congress that China has implemented unilateral visa exemptions for 50 countries and fully mutual visa exemptions with 29 countries. Last year, the proportion of foreign nationals entering China visa-free reached 73%. Moving forward, China will continue to optimize personnel exchange policies, further release visa exemption benefits, improve supporting services, and make travel and living in China more convenient and comfortable for foreigners. It will also ensure that Chinese citizens traveling abroad are safer and smoother.

On March 7th, Sun Yeli, Minister of Culture and Tourism, at the Fourth Session of the 14th National People’s Congress, stated that by 2025, inbound tourism visits are expected to exceed 150 million. Electronic products such as smartphones, drones, VR glasses, as well as cultural and creative products, trendy toys, have become Chinese specialties and popular items in the eyes of foreign tourists. China is actively promoting the facilitation of inbound payments. By 2025, inbound tourists are expected to spend about 80 billion yuan using mobile payments.

The expansion of visa exemptions, payment facilitation, and the influx of inbound consumption are resonating, opening growth opportunities in tourism, retail, electronics, and cultural industries. Based on this era of opportunity, listed companies are accelerating product restructuring, improving international service capabilities, and striving to seize new development tracks in inbound tourism.

Inbound Tourism Continues to Unleash Potential

In recent years, China’s inbound tourism industry has been gradually developing towards greater convenience, digitalization, and internationalization.

Industry insiders say that from a policy perspective, China has introduced a series of supportive policies for inbound tourism, covering customs clearance facilitation, digital services, industry integration, and consumption scene optimization. These measures further enrich inbound tourism product offerings and promote steady improvements in service quality and market vitality.

For example, in terms of customs clearance facilitation, in November 2025, the National Immigration Administration announced the implementation of 10 innovative measures to support high-quality development and expanded opening-up services.

Regarding digital services, in February 2026, the Cyberspace Administration of China, National Development and Reform Commission, Ministry of Education, Ministry of Industry and Information Technology, and other 11 departments jointly issued the “Implementation Opinions on Improving Digital Service Convenience for Overseas Entry,” aiming to address digital service bottlenecks for inbound travelers, establish an interconnected, inclusive, and mutually recognized digital service system, and create a more internationalized and convenient digital environment.

Sun Yeli further stated at the meeting that the Ministry of Culture and Tourism will continue to work with relevant departments to enhance the entire inbound tourism chain, including visas, customs clearance, transportation, accommodation, dining, and sightseeing, to better establish the brands of “Travel in China,” “Shopping in China,” and “Services in China.”

Yuan Shuai, Deputy Secretary-General of the Zhongguancun Internet of Things Industry Alliance, told Securities Daily that China’s inbound tourism is currently benefiting from both policy and market advantages. Multiple entities, including the government and enterprises, are working together from various angles, reducing barriers and costs for foreign tourists coming to China, and significantly improving travel experience and consumption willingness. As visa exemption scope continues to expand, port clearance efficiency improves, and cross-border payments and multilingual services become more widespread, the inbound tourism market is expected to maintain rapid growth.

Listed Companies Seize Opportunities

In response to the development opportunities brought by the inbound tourism market, travel agencies, airlines, scenic spots, and other listed companies are increasing their product offerings to meet market demand.

Spring Airlines Co., Ltd. (hereinafter “Spring Airlines”) Chairman Wang Yu recently stated publicly that Spring Airlines is closely following national policy guidance, continuously expanding its international routes, embracing technological changes, and seizing new opportunities in civil aviation driven by residents’ consumption upgrades.

China Youth Travel Service Holding Co., Ltd. recently indicated through investor interaction platforms that the company expects its 2025 revenue growth mainly due to the steady recovery of inbound and outbound tourism markets, with tourism product service income increasing year-on-year. Meanwhile, strategic investments are progressing steadily, providing the company with stable income contributions.

UnionPay Travel Group Co., Ltd. also stated through investor platforms that it is focusing on core businesses of wholesale, retail, and integrated marketing, actively expanding into inbound tourism, domestic tourism, and high-end tourism segments. The company aims to strengthen control over core resources and diversify its business.

Lu Yaning, an analyst at Cinda Securities, told Securities Daily that the inbound tourism market has entered a new stage of “quality competition” from the previous “traffic recovery.” The proactive deployment by companies is a keen response to policy dividends. She believes that airlines are strengthening connectivity through route densification, travel agencies are enriching product offerings in niche markets, and the entire industry chain is working together to build a more attractive inbound tourism ecosystem. Additionally, as companies enhance their core resource control and diversify their product systems, the industry will shift from “passive reception” to “active marketing,” providing solid support for sustained high growth in inbound tourism.