Aerial photo taken on March 19, 2021 shows tourists visiting the ancient Houliu Township in Shiquan County of Ankang City, northwest China's Shaanxi Province. (Xinhua/Shao Rui)
BEIJING, May 25 (Xinhua) -- China's Ministry of Agriculture and Rural Affairs and Agriculture Bank of China (ABC) jointly announced on Tuesday that ABC will provide 100 billion yuan (about 15.6 billion U.S. dollars) of credit loans to key villages for rural tourism during the 14th Five-Year Plan period (2021-2025).
According to the announcement, ABC will prioritize feeding the financing demands of key villages for rural tourism promoted by the Ministry and issue credit loans for eligible farmers and small enterprises running homestay business.
Besides, innovative financial products and services will be put in place to support rural tourism.
The bank also said that direct financing where eligible rural tourism enterprises issue bonds and securities to get funds is also encouraged.
China has seen a boom of rural tourism thanks to the country's efforts to revitalize rural areas. The first quarter of 2021 saw China's rural tourism sites receive a total of 984 million tourists, up by 5.2 percent compared with the same period in 2019, according to estimations from a rural tourism monitoring center.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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