Source: China State Council Information Office 2
The Beijing Finance Bureau will invest nearly 400 million yuan (US$58 million) in tourism to counteract the impact of the COVID-19 epidemic, an official of the bureau said at a press conference on Tuesday.
Zhang Hongyu, an official of the Beijing Finance Bureau, said the bureau unveiled several measures on promoting the sound development of tourism in Beijing in response to the epidemic. The measures include making good use of tourism development subsidies, promoting services for tourism financing guarantees, providing better insurance services to suburban tourism, and leveraging the guidance effect of fiscal rewards.
The measures involve nearly 400 million yuan of total investment in tourism entities, such as travel agencies, star hotels, tourist attractions and rural home stays, as well as in such fields as tourism financing guarantees, insurance for suburban tourism, and tourism products.
The Beijing Finance Bureau also coordinated with the publicity department of the Beijing CPC Committee and the Beijing State-owned Cultural Assets Management Center to enable qualified tourism companies to apply for incentives and favorable policies in the cultural sector.
This move would allow the city to utilize various tools including subsidies, discounted interests on loans, tax cuts, and risk compensation to ease the burdens on tourism companies, increase their resilience to risks, as well as alleviate their difficulties in obtaining financing.