Tongcheng pals 1,000 yuan cash coupons to 1 million consumers

Tongcheng Network Technology Co Ltd announced plans on Monday to give cash coupons worth 100 billion yuan ($16.1 billion）to customers during the July and August holiday season.

It will be a record amount for a promotion by an online travel agency in China and it will be Tongcheng's first major giveaway.

The online travel agency, based in Suzhou, Jiangsu province, has received 6 billion yuan in funding from leading Chinese companies, including Dalian Wanda Group, Tencent Inc and CITIC Capital, earlier this month.

Tongcheng has teamed up with tourism authorities, resort operators and consumer goods companies to put together the promotion.

"Consumers can get the 'red packages' through Tongcheng's app and include admission tickets, air tickets and hotel bookings," Wu Zhixiang, CEO of Tongcheng, said.