China targets US$290b investment in tourism by 2020

[BEIJING] China aims to invest 2 trillion yuan (S$413.6 billion) in tourism by 2020, the country's state planner said on Wednesday.

The National Development and Reform Commission (NDRC) said China also aims for the total sum of tourism services purchased in the country to reach 7 trillion yuan by 2020.

The figures were in a joint release from the NDRC and the China National Tourism Administration.

China aims to have tourism contribute more than 10 per cent of annual economic growth by 2020, the statement said.

The tourism industry is expected to employ 50 million people by 2020, which will account for more than 10 per cent of total employment, it said.

REUTERS