The China National Travel Service (HK) Group Corporation (CTS), the largest comprehensive travel enterprise in China, will make a RMB 5 billion investment in Jiangning to establish a Tangshan hot spring vacation project. On June 26, Standing Committee Member of CPC Provincial Committee and Secretary of Nanjing Municipal Party Committee Mr. Zhu Shanlu attended the signing ceremony and made a speech.

Established in April 1928, CTS is one of the four Chinese enterprises in Hong Kong. Now it has developed into a world famous large group with tourism as the main industry and industrial investment (iron and steel), real estate, and logistics trade as pillar industries. It is also the important backbone state-owned enterprise directly under the charge of State Council State-owned Assets Supervision Commission.

On June 26, the two sides signed the contract officially. The total investment value of the project is RMB 5 billion, among which no less than RMB 2.5 billion will be spent on tourism items, such as five-star hotel, international meeting center, exhibition center, park, and luxury housing etc. The project is the one with the most investment and construction since the establishment of the Tangshan International Hot Spring City. The construction is divided into several phases. The tourism program will start construction first and be completed in three years. Then it goes the real estate program. The total construction duration is about five years.

Mr. Zhu pointed out at the signing ceremony that the project should be build as the Asia-leading and international first-class tourism brand. The Tangshan hot spring is the unique valuable resource of Jiangning, Nanjing, which is of great potential of development and revaluation. The tourism exhibition industry should be regarded as a strategic measure to improve the industrial structure and promote the industrial upgrading. (Nanjing Daily)