# Zhejiang Tourism Group

Zhejiang Tourism Group is a Government / Public Body based in Hangzhou, China.

## Overview

- **Organization type:** Government / Public Body
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Hangzhou, Zhejiang, China
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** chinaztg.com

## Regulatory record

- **Reports private funds:** No

## About

Zhejiang Tourism Group was established in 1999 as a provincial government vehicle to consolidate and commercialize tourism assets across Zhejiang province — a region that includes Hangzhou's West Lake, a UNESCO World Heritage site, and generates one of China's highest volumes of domestic leisure travel. The group reports to the Zhejiang Provincial State-owned Assets Supervision and Administration Commission (SASAC), with Zhang Xiongwen serving as Chairman. Its founding mandate tied directly to the state's push to professionalize tourism infrastructure investment during a period of rapid domestic consumption growth. ZTG's strategy spans direct asset ownership, fund management, and strategic joint ventures. Its portfolio of wholly-owned commercial properties includes the Hangzhou Ya Gu Quan Shan Hotel near West Lake and the Pearl International Business Center in Jianggan District. The firm makes targeted fund commitments: it launched the Zhejiang Tourism Industrial Investment Fund to seed regional projects and partnered with Fullshare Holdings on a 10 billion RMB healthy tourism fund that blends hospitality with medical wellness — an explicit nod to China's aging demographics. In mixed-use development, ZTG backs projects like the Yiwu Cultural and Healthy Tourism Project, reflecting its appetite for combining cultural heritage programming with commercial real estate. Its joint ventures expand the group's reach further into transport-adjacent services, with partnerships including Air China and China Eastern Airlines. ZTG's operational architecture includes an unusual financial services dimension. Shengjing Capital functions as its dedicated financial investment platform, extending the group's reach beyond physical assets into capital allocation. The World Tourism Alliance, where ZTG maintains a prominent membership, gives it a convening channel with global tourism authorities. Separately, the Fund for the Protection and Development of Zhejiang Province Ancient Villages operates as a preservation-oriented vehicle, blending cultural stewardship with a potential pipeline for heritage tourism development. What structurally differentiates ZTG from a generic state-owned tourism company is its explicit bridging of three mandates — physical hotel and development assets, a dedicated financial investment arm through Shengjing Capital, and direct fintech connectivity via the Ant Group joint venture. No other Chinese provincial tourism SOE publicly maintains the same combination of an in-house investment platform and a credit-services partnership with a major internet finance player. The Ant Group link, in particular, provides ZTG with access to consumer data, payment infrastructure, and credit analytics that can inform tourism demand forecasting in ways unavailable to peers reliant solely on municipal planning data.

## Sectors

- Real Estate
- Healthcare Services
- Financial Services
- Infrastructure

## People

- Zhang Xiongwen — Chairman

## Questions

### Who controls Zhejiang Tourism Group's investment decisions?

ZTG operates under the Zhejiang Provincial SASAC, which exercises ultimate ownership authority as the state's asset supervisor. Chairman Zhang Xiongwen leads the group's executive management, while its dedicated financial investment platform, Shengjing Capital, handles fund-level allocation decisions. Major joint ventures — such as the 10 billion RMB healthy tourism fund with Fullshare Holdings — require coordination with external partners but ultimately roll up under the provincial government's strategic framework.

## Related profiles

- [Zhejiang Tengen Electrics](https://altss.com/profile/zhejiang-tengen-electrics)
- [Zhejiang Venture Capital Fund of Funds](https://altss.com/profile/zhejiang-venture-capital-fund-of-funds)

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Last updated: 2026-08-11T02:43:31.692Z

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