Chinese banks pump investment to boost cultural, tourism industries

Chinese banks will be financing 320 national cultural and tourism projects to promote high-quality development of the relevant industries.

The projects were jointly selected by the Ministry of Culture and Tourism and six banks, including the China Development Bank and the Export-Import Bank of China.

The projects are expected to receive a total investment of around 620 billion yuan (95.7 billion U.S. dollars) and around 233 billion yuan worth of funds, according to the ministry.

Some of the projects have already been implemented and gained credit support, the ministry said.

 

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