The partners have created a joint venture to invest in South Korean refund operator CubeRefund.
Chinese travel abroad- especially to other Asian countries- remains brisk. Meanwhile, Chinese consumers who travel within their own country appear to be doing more shopping.
More than 3 million Chinese consumers are expected to visit North American in 2017.
Retailers who renegotiated their leases got at least a 20 percent rent reduction for stores in tourist areas, the report said.
The dip follows Beijing’s move at the end of October to regulate low-priced tours.
August spending by Chinese in the U.K. declined 2 percent.