New 'SplendorPlus' debit card launched in time for China's Golden Week

China is preparing for its National Day and 'Golden Week' holiday, one of the busiest travel periods in the world, with authorities highlighting new visa-free policies and financial services designed to attract more foreign visitors.

In 2024, Golden Week saw more than 826 million domestic trips undertaken, with spending surpassing 754 billion yuan (about 103 billion U.S. dollars), according to Reuters. 

That scale underlines the holiday's significance, not just as a travel event but as a driver of consumption.

The flow of international tourists is also rising. Figures from China's National Immigration Administration show that in the third quarter of 2024, foreign arrivals reached 8.2 million, a 48.8 percent increase year-on-year. 

More than half of those trips were made under new visa-free policies.

By the end of the year, more than 20 million visitors had entered China without visas — more than double the 2023 figure.

Tour operators say the policy has transformed demand but stress that visitors still face challenges once inside the country. 

"One big problem for foreigners is booking. Most domestic systems are only in Chinese, so in these areas travellers still find it inconvenient," said Huiying Tang, owner of FITT Tours in Düsseldorf.

Payments are another hurdle in a mobile-first economy. 

Tang explained: "One of the main issues is payments. Alipay and WeChat Pay can link to foreign credit cards, but for larger sums the bank fees are very high. For small payments, Alipay is no problem at all."

Seeking to address such concerns, the Bank of China Frankfurt Branch and UnionPay International this week launched the SplendorPlus debit card. The card allows foreign visitors to spend directly in China's cashless payment system without opening a local account or downloading an app.

"Today we once again join hands with UnionPay to launch the SplendorPlus debit card, its first release in Europe," said Chen Longjian, General Manager of Bank of China Frankfurt. 

"It will play an active role in improving payment convenience, promoting RMB internationalization, and sharing Chinese culture and image."

UnionPay's European President Sheng Jinchun added that the upgraded dual-currency debit product would provide "convenience and savings both abroad and when travelling to China."

Officials are also encouraging shopping tourism. In April 2025, Beijing cut the tourist tax refund threshold to just 200 yuan ($28) per store per day, while promising more refund outlets in malls, airports and scenic sites.

As visa-free entry brings more visitors through the door, the focus is shifting to how easily they can book, pay and shop. 

For China, Golden Week may prove not only a travel milestone but a step towards becoming one of the world's premier shopping destinations.