China's tourism investment surges in first half of 2016
China's investment in tourism projects surged by over 30% year on year in the first half of 2016, official data showed on Wednesday.
A total of 9,944 tourism projects were under development in the first six months of this year, with actual investment reaching over RMB 421 billion (USD 62.97 billion), up 30.5% year on year, according to data from the the China National Tourism Administration (CNTA).
The first six months saw 206 large tourism projects being developed with actual investment over RMB 79 billion, up 34.4% year on year. Private investment in Chinese tourism projects rose by nearly 30% year on year in the first half of 2016, and investment in west China by more than 55%, the data showed.
Tourism contributed over 10% of total Chinese GDP growth last year.
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