Abstract Public resources, owned by all members in the society, is the resource that is formed naturally or created by human, which can provide natural material and social foundation of living. The so-called public tourist attraction means a place of interest where tourists visit, typically for its inherent or exhibited cultural value, historical significance, natural or built beauty, or amusement opportunities. The public tourist attraction in China is mainly divided into two categories: one is state-owned natural or cultural tourist attractions, the other is state-owned natural or cultural tourist attraction which is quasi public goods, which are the major parts of public tourist attractions. At present stage, public tourist attraction is in a particularly vulnerable position. On the one hand, due to the characteristics of public, scarcity and immobility make it lack of commercial interests. As a result, market fails to control with the tool of price. On the other hand, because of pursuing the maximization of economic benefit, local governments do not play an important role in the development and protection of tourist attraction. In 2008, the authors interviewed 15 hot spring tourism enterprises to explore special characteristics of hot spring tourist attraction, current situation of hot spring tourism development & utilization, the plight of local government regulation, and then comprehensively analyzes characteristics of public tourist attractions and the role of government regulation. At present, under the situation of failure of market adjustment mechanism, it is vital for the government regulation to play the function of resource protection. Based on the government regulation theory, this paper analyzes the government regulation's important role which includes restricting of excessive monopoly, increasing of the supplies of public goods, coordinating externality and internalization and balancing asymmetric information. The government also should put forward regulation content system, and regulation implementation system, so as to achieve the goal of protecting the public tourist attractions and sustainable utilization.
2010, Vol. 25 
