Beijing Offers Guarantee to Export and Tourism Industries

BEIJING, July 28 (Xinhua) -- The Beijing Municipal Government and two investment guarantee companies signed a contract here today with export and tourism enterprises, the first such pact ever made in the city.

By this agreement, the municipal government hopes to inspire the further development of tourism and exports, and has offered a total of 100 million yuan (12 million US dollars) to shore up the areas.

Zhang Mao, Beijing's vice mayor, said the secured credit will offer strong support for the construction of scenic spots in Beijing and the development of new tourism products with Beijing characteristics.

Statistics show that about 1.05 million overseas tourists visited Beijing during the first half of this year, a year-on-year increase of 11.4 percent, and the city's total export volume has reached 1.29 billion US dollars.

The two companies have already jointly offered guarantee services to new technological and medium- and small-size enterprises, and they intend to expand their individual housing loan activities during the second half of the year.