Previous financing vehicles piled pressure on borrowers
Tourists wearing Qing dynasty costumes visit one of Beijing’s many historic sites on Oct. 1. Many so-called culture and tourism investment companies have been struggling with ailing projects, despite favorable conditions in China’s tourism sector. © Reuters
QING NA, Caixin
November 15, 2025 11:04 JST
Chinese local governments have increased the number of culture and tourism investment companies (CTICs) in recent years, with some designed to shift their traditional financing vehicles onto a market-oriented footing, allowing localities to sidestep strict borrowing limits.