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New policy pushes tourism share prices up

07-28-2010 08:50 BJT

Shares in tourism related companies surged on the mainland markets today, after the government announced plans to offer financial support to the industry.

Guilin Tourism Corporation's share prices rose as much as 4.5 percent to 10.5 yuan in Shenzhen trading. China International Travel Service Corporation advanced as much as 3.9 percent in Shanghai.

The State Council says China will extend financial support to tourism companies and projects, by setting reasonable loan period and rates. It also says companies will be encouraged to sell bonds and shares to raise funds. Tourism companies with foreign ownership or investment will now be allowed to operate tours for Chinese citizens traveling outside the country, on a trial basis.

Editor:Xiong Qu |Source: CNTV.CN

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