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The China National Tourism Administration (CNTA) and the State Development Bank signed agreement Friday to provide financial support for "red tourism."
"China's "red tourism" campaign promotes revolutionary history before 1949, in an effort to "instill faith in the communist leadership and boost development in rural areas."
According to the agreement, the two organizations will design and develop "red tourism" programs and improve investment in the projects.
The development bank will provide technological support loan for key regions as well as different provinces and cities. The bank will also provide policy loans to support state-owned companies to enlarge their capital volumes. The bank will also support tourism project construction and the merging of big companies.
Rural areas with abundant "red tourism" sites lag behind the rest of the country in economic development. With the financial support of the government, they can improve infrastructure and make long-term strategic plans, said Gu Chaoxi, deputy director-general of CNTA.
(Xinhua News Agency March 14, 2005)
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