In Britain, This Yuan's for You

Outlet malls in Great Britain issue tax refunds denominated in yuan

(Caixin Online)I spent part of the Spring Festival holiday with my family in Britain where, as in much of Europe, foreign visitors who shop at certain places can ask for tax refunds at airports. Heading back to Beijing, I had trouble finding a tax refund window for tourists at Heathrow Airport. Fortunately, my Chinese face drew attention from an airport service staffer who pointed me in the right direction.

I suddenly felt at home. Two-thirds of those queuing for refunds looked like me. I heard typical Mandarin, Cantonese and Shanghai dialects. But it was no surprise. Two days earlier, about half the shoppers with me at Bicester Village, a famous outlet mall for elite brands, looked Chinese. And they were enthusiastic shoppers, enjoying the lunar New Year.

I was told 40 percent of Bicester's shoppers last year were British. Twenty percent were continental Europeans, and another 40 percent traveled from more distant lands. About half of these "others" came from China. I learned the Chinese clientele is growing rapidly. What's more, we lead the rest in average purchase amounts. I can vouch for that data, because for the first time ever I maxed out my credit card at Bicester Village.

After standing in line, it was my turn to face the officer for my tax refund. He worked out the credits, looked at me and then asked an astonishing question: Did I want my refund in yuan? I stared back. "What? Yuan for the refund?" I asked. "Yes!" I was excited, and wondered whether China's pilot overseas program for yuan settlement might be extended to Britain.

After the officer returned to his keyboard, though, his expression turned apologetic. "Sorry," he said. "We ran out of yuan. There are too many Chinese today. Would you mind having Hong Kong dollars for your refund?"

(Translated by GC)