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Xinjiang invites overseas investments in tourism
(Xinhua)
Updated: 2004-04-20 10:44
Overseas businesses are welcome to invest in tourism in Northwest China's
Xinjiang Uygur Autonomous Region, according to a local updated regulation on
tourism administration due to take effect on May 1.
Overseas investors will enjoy favorable policies for putting money into
developing tourism resources and operating tourism projects in Xinjiang, said
the regulation, an amendment of the regulation enacted in 1998.
The new rule also makes it clear that projects which threaten tourism
resources, harm the ecological environment and natural beauty, or cause
contamination, are forbidden.
Arrivals of domestic and overseas tourists in Xinjiang reached 10.25 million
in 2003, a slight rise from a year ago, bringing in 9.2 billion yuan (US$1.1
billion) in turnover for the local tourism sector, including US$43 million in
foreign exchange.
The Xinjiang tourism industry expects to reap a record 10 billion yuan
(US$1.2 billion) in business turnover for the whole of this
year.
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