At the 8th China International Import Expo (CIIE) in Shanghai on Nov 6, Bank of China announced new partnerships with card payment giant China UnionPay and the Shanghai-based hotel operator H World Group, focusing on advancing consumer service in departure tax refund and hospitality.

In collaboration with China UnionPay, BOC introduced a new departure tax refund product aimed at providing inbound tourists with fast and convenient multi-card refund services. Tourists can use UnionPay cards issued both domestically and internationally, along with cards from Visa, MasterCard, JCB, Diners Club, and others, to access integrated pre-authorization guarantees and tax refund settlement services at tax refund service counters at ports, centralized locations, and authorized stores. This significantly reduces the refund time for cardholders. Through China UnionPay's extensive payment network and BOC's expertise in cross-border services, they aim to promote the departure tax refund product nationwide.

On the same day, BOC signed a strategic cooperation agreement with H World Group to integrate financial services with hotel living scenarios, creating a novel "finance + hospitality" service ecosystem. They will establish a joint membership system for the mutual recognition and integration of their mid-to-high-end membership systems and premium benefits, thereby enriching the user experience. They will also collaborate on payment discounts and various reward point activities, while advancing the application of digital renminbi payment scenarios and upgrading smart point-of-sale (POS) terminals to provide an intelligent hotel payment experience.

BOC is committed to working with industry partners to improve consumer experiences with more personalized financial services, stimulate market vitality, and contribute to the nation's high-level opening-up and high-quality development.