（VII）Tourism Program Investment & Financing

Introduction to the Committee of Investment

The Committee of Investment, officially established during the WTCF Chongqing Fragrant Hills Tourism Summit, after many years of arrangement and preparation made by the WTCF and the China Associationof Private Equity (CAPE). The Committee of Investment is a non-governmental and non-profit branch under the WTCF and aims to serve city and institutional members, as well as to promote the healthy development of world’s tourism industry. It is also a service platform under the WTCF to promote cooperation between city members and tourism enterprises as well as between the physical economy and capital market.

Preparation

The WTCF Secretariat and the CAPE (an institutional member of WTCF) jointly initiated the preparation for the Committee of Investment. CAPE is dedicated to building a self-disciplined supervision mechanism for the industry, safeguarding the legitimate rights of members, improving the qualifications of members, strengthening exchanges and cooperation between members and domestic and overseas equity investment fund management circles, as well as boosting the development of China’s equity investment industry. So far, the CAPE has nearly 400 Chinese and foreign organization members, who are managing more than RMB1 trillion (USD155 billion). Their investment scope covers all industries, with tourism industry becoming the hotspot of investment in recent years.

The Committee of Investment will include existing CAPE member as the foundation and attract WTCF institutional members and world-renowned investment groups and foundations to jointly drive development of cross-regional and cross-industry tourism resources, market investment and capital operation, so as to promote the sustained and healthy development of the tourism industry and relevant service sectors.

The Service Philosophy

The Committee of Investment will leverage the comparative advantages of global financial resources and equity investment, enrich the financing channels of tourism cities and relevant enterprises, help share successful experiences of investment and financing parties, improve the efficiency in allocating tourism resources and financial capital, and boost the project cooperation and developmental strategies for tourism enterprises.

The Service Contents

The Committee of Investment will proceed from advocating directions, expanding channels, creating opportunities, tapping potentials, invigorating markets and adding value to resources, uphold the principles of“ internationalization, marketization and standardization”, to provide WTCF city and institutional members with a diverse range of services, including consultation and appraisal, supervision and guidance, training and exchange, academic scientific research, subject results, project introduction, and mutual sharing of experiences.

The Main Emphasis of Work

1.The tourism industry has the characteristics of diversify, complexity and cooperative participation by various relevant industries. It has the potential of diversified integration, resource connection, supplementary advantages, connectivity, cultural exchanges, all of which result in the upgrading of service and consumption sectors, and promotes social progress and economic development. Tourism service enterprises, in particular, have great potential in rapidly applying and optimizing advanced technologies to improve tourism experiences.

2.The Committee of Investment will actively guide exchanges and cooperation between financial capital and equity investment in the innovation and development of tourism industry, achieve cross-boundary integration and development in terms of connectivity, enrich the member service contents of WTCF, invigorate the normal service activities of WTCF, expand global perspectives of the senior executives, and improve the global influence of WTCF.

Tasks

1.Information services. The Committee of Investment will leverage the grand platform of WTCF and the existing“ Global Equity Investment Comprehensive Service Information System” of CAPE to provide city and institutional members with effective information services and customized consulting services.

2.Training and exchange. The Committee of Investment will initiate investment training and exchange activities for WTCF members as soon as possible, so as to help them enhance global and opportunity recognition, broaden international perspectives, study tourism cases, organize field trips, discuss cooperation opportunities, assess investment value, share successful experiences, optimize equity structure, expand financial channels, and improve the planning and governance level and investment management capabilities of tourism cities. It will leverage the large international forums of CAPE as well as various series of training sessions, seminars, and lectures to benefit WTCF city and institutional members.

3.Research and exploration. The Committee of Investment will proactively study tourism cases and successful experiences of major tourism cities and institutional members from around the world. It will also vigorously explore and promote the PPP model in cultural and tourism areas, the BOT model of ecological tourism towns, the joint investment and loan model of innovative tourism enterprises, and the M&A model of traditional tourism enterprises.

4.Reinvigorating resources. The Committee of Investment will actively encourage cooperation and mutual participation, as well as connect opportunities in the integration of capital investment. It will encourage diversifying tourism investment entities, and create new drivers of capital, innovation, technology and cooperation to propel the development of the tourism industry. It will drive the construction of a large scale marketing and service system for cross-regional tourist sources and markets, promote M&A investment and large-scale integration along the industry chain, reinvigorate existing tourism resources, and unleash potential investment value.

5.Connection of investment and financing. The Committee of Investment will also organize city members to screen and recommend quality projects as well as investment and cooperation opportunities; leverage the Global Incubation Network (GIN) and the Global Merger and Acquisition Network (GMAN) to drive tourism investment-related early project incubation and connection of project investment and financing during the middle and later phases.

6.Other works related to the development scheme and annual working plans of WTCF.