China’s Largest Bank to Provide $41 Billion in Tourism Financing

The Industrial & Commercial Bank of China Ltd. will offer 300-billion yuan ($41 billion) in financing to boost the nation’s tourism sector amid sluggish consumer spending in the world’s second-largest economy.

The country’s biggest bank signed a cooperation pact with China’s culture and tourism ministry on Tuesday to “stimulate” tourism investment and spending, according to a statement posted on the ministry’s official WeChat account.

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