Ministry, bank ink deal to bail out enterprises hit by virus outbreak

Source: Xinhua| 2020-03-26 15:54:28|Editor: huaxia

BEIJING, March 26 (Xinhua) -- China's Ministry of Culture and Tourism has signed a cooperation agreement with the Industrial and Commercial Bank of China to bail out the country's cultural and tourism enterprises hit by the novel coronavirus outbreak.

The move aims to facilitate the resumption of work and production in these enterprises, boost consumption and investment in the sector and facilitate its high-quality development, according to the agreement.

The two sides will roll out a series of financial bail-out measures, including more credit lines and better loan policies, for cultural and tourism enterprises to reduce their costs and help them raise money.

The two sides will also join hands in promoting the development of major tourism projects and infrastructure, according to the agreement.