Chinese Tourism Industry Getting Gaining Increased Investment

Wang Zhifa, vice director of the China National Tourism Administration, said at the Yunnan Tourism Industry Development Meeting that according to initial statistics, there is an incremental capital of about CNY150 billion invested in Chinese tourism industry annually.

Wang said that the growth rate of capital invested in the Chinese tourism industry has on average exceeded 20% year-on-year. And CNTA approves several five-star hotels every month. For example, there are a total of more than 30 five-star hotels in Dongguan, Guangdong; and Tianjin has 45 projects in the pipeline between 2008 to 2010 with a total investment of CNY83.8 billion.

In addition, a series of large tourism projects have been completed or are under construction. These are expected to drive the development of Chinese tourism sector. Of these, some international high-end tourism products have begun to enter Chinese market, including large cruises visiting domestic coastal ports, and touring cars and yachts being developed around the country. Meanwhile, public tourism services and facilities such as tourism consulting services and tourist distribution centers have been strengthened and improved in China.