Economy

China to lend financial support to tourism firms

(Agencies)
Updated: 2010-07-27 13:41

China will lend financial support to companies in the tourism industry and encourage them to sell bonds and shares to raise funds, according to a statement from the State Council on a government website.

Related readings:  China's outbound travelers may top 52m in 2010  China cracks down on garish tourism promotion  Tourism revenue reaches 23 billion yuan, visitors' satisfaction ranks fourteenth in China  Tourists bank on weak euro

Foreign-invested tourism companies will be allowed on a trial basis to operate tours for Chinese citizens outside of the country, the statement said.

China International Travel Service Corp rose to the highest in more than seven months in Shanghai trading after the policy released.

The stock rose 1.6 percent to 22.28 yuan as of 9:32 am local time, heading for the highest close since Oct 15.