BEIJING, Aug. 24 (Xinhua) -- An investment fund for cultural and tourism industrial development has been recently established in Ningbo, east China's Zhejiang Province, raising 1.005 billion yuan in its first round, reported by Zhejiang Daily on Saturday.
Photo: The signing ceremony of the investment fund for cultural and tourism industrial development is held in China's Ningbo.
The total scale of the fund is 2 billion yuan, which is expected to comprehensively promote the high-quality development of Ningbo's cultural and tourism industry, help the city explore new models of cultural and financial development, and also help the transformation and upgrading of its cultural and tourism industry.
The main investors of the fund include Ningbo Tourism Investment and Development Co., LTD. (Ningbo Tour Company), CITIC Press Group, China's luxury e-commerce platform Secoo China and Asia's leading film and television production technology company Phenom Films.
The fund will help Ningbo to coordinate with key enterprises, integrate market-oriented high-quality resources and industrial projects, and focus on investing in key enterprises with obvious competitive advantages in the industry and its upstream and downstream industries, according to the Ningbo Tour Company.
At the same time, with the resources of CITIC Press Group and Ningbo Tour Company, high-quality cultural and tourism equity projects, tourism retail complexes, scenic spots and IP industries, and live broadcast e-commerce projects will also be introduced in the future. (Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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