Cultural, tourism projects worth 5.7b yuan signed in Nanming

Nanming district signs agreements for two cultural and tourism projects at the Guizhou Promotion Conference for the Culture and Tourism Industry on Sept 27. [Photo/Guiyang news network]

Nanming district in Guiyang, capital of Southwest China's Guizhou province, signed two investment cooperation agreements at the Guizhou Promotion Conference for the Culture and Tourism Industry, which was held in the city of Tongren on Sept 27.

Total investment in the newly-signed projects was valued at 5.7 billion yuan ($855.21 million).

According to the agreement, Fortune Global 500 company China Jinmao Holdings Group Limited (China Jinmao) will invest 2 billion yuan to construct a five-star Conrad Hotel in Nanming district.

Furthermore, China Jinmao will invest more than 10 billion yuan to participate in Nanming's urban upgrading projects in a bid to improve the district's urban functions and service quality.

The other project was signed between the Nanming district government and Beijing Shougang Real Estate Development Co to build the Daqianchao underground space cultural and tourism project.

A total of 3.7 billion yuan will be used to build the first benchmark underground micro-tourism and cultural business in the country.

The signing of the two projects is expected to boost the development of the culture and tourism industries in Nanming and build a high-quality modern service system.