Jiangsu Grand Canal Cultural Tourism Fund was inaugurated Saturday in Nanjing. The fund is the first of its kind in the country.
Governor Wu Zhenglong attended the inaugural meeting and launched the fund.
Wang Yanwen, member of the Standing Committee of the Provincial Party Committee and head of the Publicity Department, required that the fund will be used and managed properly to promote the construction of the Jiangsu section of the Grand Canal Cultural Belt in the forefront. Vice Governor Wang Jiang presided over the meeting.
The provincial government established the Jiangsu Grand Canal Cultural Tourism Development Fund in order to implement the instructions of the General Secretary and the major decision-making arrangements of the provincial party committee on the construction of the Grand Canal cultural belt.
The operation of the fund adheres to the principles of government-led, market operation, diversified investment and safe and sound investment, giving full play to the guiding role of the government and the decisive role of the market in resource allocation, promoting the formation of investment model through provincial and local government funds linkage, and the participation of various social capitals so as to encourage the involvement by more high-quality cultural travel companies, investment companies and construction and operation, financial insurance, planning services and other multi-source participants.
20 billion yuan will be earmarked for the first phase of the fund’s operation.
Regional sub-funds were signed between the Provincial Grand Canal Cultural Tourism Development Fund and the cities along the Grand Canal of the province, China Tourism Industry Fund, China Culture Media Group, Shaanxi Travel Group, Cornerstone Capital and Wuxing Group, the China Development Bank, Bank of China, China CITIC Bank, and Jiangsu Bank.
As the world’s longest man-made canal, the Grand Canal is a vast waterway system in the north-eastern and central-eastern plains of China, running from Beijing in the north to Zhejiang province in the south with a sizable section in Jiangsu from Xuzhou in the north to Suzhou in the south.
The canal was a pillar for the economy, social stability and government functions in ancient China. It also helped the evolution of Chinese culture by enhancing communication between the south and the north.
(Source：ourjiangsu.com)
