An increasing number of private business owners in east China's
Zhejiang Province are seeking a share in the local tourism
industry, as the coastal province encourages diverse funds to build
more tourist resorts.
The Peace Blossom Island, once an uninhabited island near Zhoushan,
has been favored by many private investors, at least two of whom
have reached deals with the local government.
Most investors believe that a major selling point of the island
lies in its reputation as the home of a chivalrous father and his
smart daughter featured in a novel by Louis Cha Leung-yung, a
celebrated Hong Kong writer with the pen name "Jin Yong."
"To turn the Peace Blossom Island into a tourist attraction is part
of our long-term development plan," said Zhu Baoguo, general
manager of a production material market based in Ningbo
City.
Tourism has offered great market potentials as the average Chinese
are better off and enjoy more holidays, said Zhu, who has decided
to pour 10 million yuan (US$ 1.2 million) into the island project.
"The idea to invest in tourism actually struckme two years ago," he
told Xinhua.
Zhejiang boasts many scenic spots, some of which are still in the
wild. As government allocations always fall short, the province has
mapped out preferential policies to draw funds from
non-governmental sources in recent years.
Lured by the high returns, more and more business owners are
willing to start and expand investment in the tourism sector.
Songcheng Group, headquartered in the provincial capital Hangzhou,
has fostered several tourist attractions in Hangzhou and Xiaoshan,
bringing 4 million tourist arrivals annually.
Some private investors have even fought their way into other
provinces. In 2000, Jinyi Group reached a deal with the
northernmost Heilongjiang Province on the development of a tourist
destination there.
Analysts have forecast further boom in China's tourism
industry,which promises huge profits to the investors.
(
January 13, 2002)