Travel agency gets $811m credit

Tongcheng Network Technology Co, China's third-largest online travel agency by market share, signed a strategic deal with China Merchants Bank's Suzhou branch on Tuesday for a credit line worth 5 billion yuan ($810.99 million) to fund its offering of 1 yuan tickets to almost 1,000 scenic spots nationwide.

Tongcheng began offering 1 yuan tickets to attractions in March, and as of the end of August, the online travel agency had helped travelers save more than 500 million yuan in ticket spending, it said on Tuesday.