China unveils new plans to boost its tourism industry

China has brought forth a series of new measures that are to be implemented to boost the nation’s tourism industry and economy, as per the guidance released by the State Council on Thursday. According to travel trade analysts, the Chinese government is aiming for spending on domestic tourism to reach 5.5 trillion yuan ($894 billion) by 2020 with tourism accounting for more than five percent of GDP.

“Tourism has a big impact on environmental protection and industrial structure adjustment. So, speeding up the development of the tourism sector could bring the comprehensive effects in different fields,” said Dai Xuefeng, Director of Tourism Research Center of CASS.

The new initiatives will also make it easier for investors to invest in the sector. “We will further support our own enterprises and we’ll also encourage the development of the intellectual property rights in those companies. Besides, we’d like to see mergers and restructuring in those tourism companies,” said Peng Fuwei, Deputy Director of Department of Social Development of NDRC.