Bank of Beijing offers faster tourism loans

Caters to rapidly growing tourism market in China.

Bank of Beijing Consumer Finance Company, a subsidiary of Bank of Beijing, now offers a tourism loan in partnership with Utour International Travel Service, one of the main outbound travel agencies in China.

"It is much quicker than other banks' tourism loans," said Jin Lixin, deputy general manager of the BOBCFC's production and channel developing department.

He said successful applicants can have the loan approved with money in hand, in one hour. The upper loan limit is usually RMB10,000 (US$1,600) and there will be no interest or commission.

The rapidly growing tourism market in China, especially outbound tourism, is the main reason for the loan. China is the global leader in the number of outbound tourists. This number is expected to exceed 100 million trips this year, said the China Tourism Academy.