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Bank of China Signs 1.8 Billion Yuan Deal to Promote Tourism in Shaanxi
The Shaanxi Provincial Branch of the Bank of China, one of the four largest banks in China, signed a deal with Shaanxi Tourism Group Company Wednesday, to finance 1.8 billion yuan (US$218 million) for the company in the coming five years.
The money will be used by the company for major tourism development projects and its subordinate enterprises.
The company, an investment and capital management entity authorized by the provincial government, engages in the management or development of cultural relics, scenic spots, travel services, star-class hotels, bus companies and tourism products.
With its capital valued at 1.6 billion yuan, the company received a total of 5.27 million domestic and overseas tourists in the first 10 months of this year.
Shaanxi is home of rich relics from many Chinese dynasties, including the terra-cotta warriors and horses unearthed from the tombs of Emperor Qin Shihuang (221 B.C.- 206 B.C.).
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