On January 4, Jiangsu Grand Canal Culture & Tourism Development Fund was established in Nanjing. Wu Zhenglong, Governor of Jiangsu Provincial People’s Government, attended the inaugural meeting.

The Grand Canal is an important symbol of Chinese civilization. President Xi Jinping attaches great importance to the development of the Grand Canal cultural belt, emphasizing that the Grand Canal is a precious legacy left by our ancestors, which must be well protected, passed down and utilized well. In order to implement the instructions of President Xi and the decision-making arrangements of the CPC Jiangsu Provincial Committee on the development of the Grand Canal cultural belt, the Provincial Government established the Jiangsu Grand Canal Culture & Tourism Development Fund.

The Fund adheres to the principles of government leadership, market operation, diversified investment and safe and sound investment, giving full play to the guiding role of government and the decisive role of market in resource allocation, and promoting the formation of an investment model that will drive more participants of high-quality cultural and tourism businesses, investment, construction and operation, financial insurance, planning services and so on. The first phase of the Fund is 20 billion yuan. It will focus on key areas, support high-quality projects and provide diverse and professional financial support for the development of the Grand Canal cultural belt.