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Policy

China to invest RMB 5.7 bln in cultural and tourism sectors in 2020

February 28, 2020


Abstract : China's top economic planner has invested 5.7 billion yuan (about 813.9 million U.S. dollars) from the central budget for 2020 to advance cultural and tourism projects, according to a statement on the website of the National Development and Reform Commission (NDRC).

BEIJING, Feb. 28 (Xinhua) -- China's top economic planner has allocated 5.7 billion yuan (about 813.9 million U.S. dollars) from the central budget for 2020 to advance cultural and tourism projects, according to a statement on the website of the National Development and Reform Commission (NDRC) on Thursday.

The investment will be allocated to support the construction of 485 projects concerning cultural service facilities, protection and utilization facilities for national cultural and natural heritages, tourism infrastructure and public service facilities, said the statement.

China has invested a total of 27.8 billion yuan from the central budget since 2016 to shore up cultural and tourism development, of which 6.1 billion yuan was earmarked for cultural projects, 9.7 billion yuan for heritage protection projects and 12 billion yuan for tourism projects, according to NDRC.

The active investment by the central authority will play a positive role in boosting confidence in the cultural and tourism sectors, which are hit hard by the outbreak of the novel coronavirus pneumonia, improving related services, spurring cultural and tourism consumption and unleashing the potential of the sectors to drive economic recovery.

NDCR said it would work with relevant departments to strengthen project supervision to ensure construction objectives are delivered on schedule, and craft a number of boutique cultural and tourism projects. (Edited by Su Dan, silviasu07@163.com)

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Keyword: culture tourism investment

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