Shanghai banks grant huge credit to support tourism recovery

The Shanghai branches were Bank of Communications, China Construction Bank and Bank of China, as well as Bank of Shanghai and Shanghai Rural Commercial Bank.

 

Five banks in Shanghai on Thursday jointly granted credit totaling 50 billion yuan (about 7.4 billion dollars) to support  recovery of the city’s cultural and tourism industry.

The Shanghai banks had  signed agreements with relevant enterprises to provide financial support for the construction of a new cultural E-sports centre, and also the issuance of consumption coupons, rural vitalisation, and digital transformation of scenic spots.

The Shanghai branches were Bank of Communications, China Construction Bank and Bank of China, as well as Bank of Shanghai and Shanghai Rural Commercial Bank.

READ ALSO:https://brandpowerng.com/nigerians-to-enjoy-improved-power-supply-from-july-1-nerc/

The epidemic would not change the general trend of high-quality development of the cultural and tourism industry, and deepened cooperation between government.

The banks and enterprises would help Shanghai’s cultural and tourism industry tide over difficulties and accelerate its recovery, said Fang Shizhong, director of the municipality’s administration of culture and tourism.

Since 2020, these five banks had supported nearly 4,000 cultural and tourism enterprises in Shanghai, issuing loans of more than 53 billion yuan.

 

(Xinhua/NAN)

You might also like

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More