E. China province encourages foreign, private investors in tourism industry
( 2003-07-01 15:37) (Xinhua)
Fujian Province in east China is encouraging overseas investors and local
private business people to invest in its fledgling tourism industry, according
to local official sources.
The provincial government will allocate a special fund of 100 million yuan
(US$120,000) a year for boosting the industry, and meanwhile, local banks will
also give priority to finance tourism companies.
A series of preferential policies have been issued, including the exemption
of land-use fees for tourism projects worth 30 million yuan (US$3.6 million) or
Currently, 155 tourism projects are underway in the province, involving a
total capital of 9.4 billion yuan (US$1.13 billion). Moreover, another 209
similar projects are waiting for an estimated investment of US$1.6 million from