State Administration: Chinese Residents

state administration: The Americas ranked second, accounting for 24 percent, followed by Europe with 13 percent, the report showed, according to Global Times China. With stronger trade and investment ties with countries along the Belt and Road Chinese residents are spending more in such emerging markets, according to the report. Xinhua Chinese tourists spent 127.5 billion US dollars overseas in the first half of 2019 H1 according to a report released by the State Administration of Foreign Exchange SAFE . Asia took the lion's share of Chinese tourists' consumption with 54 percent of the total. In the first half of 2019, Chinese residents spent a total of 14.9 billion dollars in Belt and Road countries, SAFE data showed. Shopping has remained a main component of tourist consumption. In terms of payment methods, mobile payment saw its H1 volume double from the same period last year, while bank cards remained the primary form of payment. (news.financializer.com). As reported in the news.