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The Hefei tourism association signed a cooperation agreement with a bank on July 12 making loan payments for travel expenses available. This is the initial attempt for Hefei to offer travel loans; 26 travel agencies around the city will be able to provide this service.
As long as the travelers show certificates of home property or income, they can apply for loans to pay for trips, including cash deposits and consumption abroad. The maximum amount is 300,000 yuan ($48,870). The loan term ranges from three months to three years with a high interest rate of roughly 8 percent.
By Guo Yi
Edited by Michael Thai, Huang Pei
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