Shanghai's airport passenger traffic has set a new all-time high over the first five months of this year, thanks to China lengthening the list of countries whose citizens do not need a visa to enter and new tax refund policies.

Passenger throughput at Shanghai's airports reached nearly 17 million in the five months ended May 31, up more than 20 percent from a year earlier, according to the latest data from the local customs office.

About 54 percent of foreign visitors entered without a visa, with most coming from South Korea, Japan, the United States, Australia, and Canada, according to statistics from the Shanghai Hongqiao Airport Exit-Entry Frontier Inspection Station.

China has mutual visa-free agreements with 26 countries and unilateral visa waivers for 38 more, while the citizens of 54 nations can enjoy visa-free transit.

Shanghai's optimized tax refund policy has been implemented for over a month, adding more than 60 "immediate refund" stores. According to data from the tax department, local sales of tax-refundable goods surged 86 percent from a year earlier, while the amount for tax refunds soared 77 percent.

In addition, Shanghai aims to become a world-renowned tourist city and create a matrix of top theme parks, the local government said on May 21.

The Shanghai Legoland Resort will open on July 5, with official estimates claiming the park will see 2.4 million visitors this year. In addition, the city has a Disneyland Resort, while local tourism and hospitality firm Jinjiang International Holdings allied with Warner Bros. Entertainment to open a Harry Potter Studio Tour in 2027.

The future of Shanghai's consumption is not just in satisfying the local market, but also the international one, Zhang Yina, director of Fudan University's Consumer Market Big Data Laboratory Shanghai, told Yicai. The internationalization and centralization of consumption are challenging, but the city must continue to expand in that direction, Zhang added.