As a popular first stop for overseas visitors to China, Shanghai is enhancing the consumer experience for tourists using foreign bank cards with its evolving digital payment systems.
Official data from the municipal government showed that, since late 2023, Shanghai has opened more than 37,000 foreign card point-of-sale (POS) terminals throughout the city.
International visitors who are short on time to withdraw cash or unfamiliar with China's digital payment systems have welcomed the expansion.
"We normally do the payment by cash only, but in case if you needed to do with credit card, we can do that," said an international visitor.
"Normal credit card, no problem. I think it is improving, yes." said another visitor.
A bank officer said that the acceptance of foreign cards will be further extended to small-denomination payment scenes in the metropolis.
"We have installed POS machines accepting foreign bank cards in 12 commerce sites and those major tourist attractions and hotels in the city. And we will continue to promote the coverage of those machines. Also, we will ensure major merchants in the city have enough small bills and increase the number of small bill withdrawal or exchange outlets in the city. There will be more small denominations available in the market," said Mao Jiansong, senior deputy manager of Operation and Channel Management Department under Bank of Communications' Shanghai Branch.
Some Shanghai taxis now accept foreign bank cards for fare payment, making the city a pioneer on the Chinese mainland for this convenient option. All these taxis will also provide a travel guide printed in English and Japanese, helping those who do not understand Chinese to communicate with drivers.
For visitors seeking a convenient all-in-one payment solution, the city has introduced the 'Shanghai Pass'. With a maximum balance of 1,000 yuan, this one-stop tourism pass can be used for public transportation and across tourism venues and shopping malls.
It requires no registration and any remaining balance can be refunded upon departure at designated locations throughout the city."
According to Sun Yao, general manager of Shanghai City Tour Card Development Co., the Shanghai Pass is designed to make small payments easier.
"It is designed to make small payments easier. After topping the card, you can pay for things without getting charged from stores. And there are QR codes on the front and back of the card. Cardholders can scan the codes to learn more about how to use it, as well as getting other useful information from the Municipal Administration of Culture and Tourism," said Sun.
According to the Municipal Administration of Culture and Tourism, Shanghai received 1.27 million tourists in the first quarter of this year, up 250 percent year-on-year, and is expected to receive about 5 million inbound tourists for the whole year.
Shanghai expands foreign card acceptance to enhance tourist experience
China is accelerating the commercialization of marine scientific and technological achievements and fostering new quality productive forces by boosting support for small and medium-sized enterprises (SMEs) in the marine sector, with a focus on investment and financing to drive industry growth.
The development of marine industries is marked by substantial investments, high risks, and slow returns. However, with strong national support, some companies, such as Zhejiang Startest Marine Science and Technology Co., Ltd. in east China, have achieved notable success.
The company is a national high-tech enterprise specializing in the independent research and development of underwater sonar detection equipment and underwater information data systems.
It now holds more than 210 intellectual property rights for its designs.
"We are now fully capable of replacing similar foreign imported products with our own ones, thereby overcoming the bottleneck in production caused by foreign product embargoes," said Su Xiaoyang, president of Zhejiang Startest Marine Science and Technology Co., Ltd.
While some marine SMEs, such as Shenzhen HiCloud Data Center Technology Co., Ltd., China's first underwater data center equipment and service provider, have mastered core technologies, a gap remains compared to international standards. As a result, continuous investment is necessary for them to overcome critical technological challenges.
"The Underwater Data Center Pilot Project is a new infrastructure initiative requiring a significant initial investment and scale effects. However, both users and investors in the market still lack a comprehensive understanding of the project's strategic significance, including the technical risks associated with emerging technologies," said Pu Ding, general manager of the Underwater Data Center Pilot Project in Hainan under Shenzhen HiCloud Data Center Technology Co., Ltd.
To address the challenges faced by marine SMEs in securing investment and financing, the Ministry of Natural Resources (MNR), along with the Shenzhen Stock Exchange, has organized a series of roadshows since 2016. Over 200 marine SMEs and innovation teams have participated, securing more than 3 billion yuan (around 409.8 million U.S. dollars) in financing.
In addition to these efforts, the MNR, in collaboration with the Shanghai Stock Exchange, launched China Ocean Economy Stock Price Index in 2024, covering 20 marine and related industries.
"This is the first domestic comprehensive index in the marine sector, covering all the markets of Shanghai, Shenzhen, Beijing, and Hong Kong. It provides timely insights into the operational performance of listed companies in the marine industry and plays an important role in promoting the efficient allocation of financial capital to the marine real economy," said Feng Lei, deputy director of the Ocean Strategic Planning and Economic Department under the Ministry of Natural Resources.
Small marine firms accelerate commercialization of sci-tech achievements under greater policy support
