The China Tourism Investment Fair opened on Tuesday in Ningbo, a port city in Zhejiang Province, attracting more than 10,000 Chinese and foreign participants.

The fair, jointly sponsored by the China National Tourism Administration and the Ningbo municipal government, has more than 1,000 booths promoting China tourism investment programs, and is expected to attract investments of 100 billion yuan (US$12.3 billion), according to the organizing committee.

At the first signing ceremony, 18 agreements were inked involving a total investment of 8.5 billion yuan, (US$1.06 billion), said the organizing committee.

Gu Chaoxi, deputy director of the China National Tourism Administration, said at the opening ceremony that more money will be injected into the development of China's abundant tourism resources to make the country more attractive to tourists.

The three-day fair is another major event similar to the China International Tourism Fair and the China Domestic Tourism Fair.

Forums on tourism investment and the sustainable development of China's tourism industry, as well as tourism investment across the Taiwan Straits, will be held during the event.

The organizing committee said that a tourism investors' club will also be launched during the fair.

Overseas participants include delegations from countries including Japan, the Republic of Korea and the United States.

(Xinhua News Agency November 2, 2005)