The National Development and Reform Commission (NDRC) and China National Tourism Administration (CNTA) on December 14 released a notice on implementation of major tourism and leisure projects, reported the Xinhua-run Shanghai Securities News.
China's tourism direct investment would increase by an average of 20 percent annually, to approximately 2 trillion yuan by 2020, with total tourism consumption reaching 7 trillion yuan by then, according to the notice.
The country's tourism investment is expected to exceed 1.2 trillion yuan this year, according to latest data by CNTA, which means an increase of about 800 billion yuan investment in the next four years.
Tourism is expected to account for more than 10 percent of the national GDP by 2020 and the industry will provide 50 million jobs, the notice said. China will refine and improve tourism attractions, map out national and provincial level tourism resorts, self-driving and recreational vehicle camping bases and international characteristic tourism destinations while speeding up tourism product design, according to the notice.
The notice also said that the market would form about 100 leading comprehensive tourism enterprises and groups as well as tourism service brands by 2020. More policy supports such as credit, fund and land support would be provided, the notice said.
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