China Tourism Market (2004)

ChinaMarketResearch.com
January 1, 2005
50 Pages - SKU: CMRC1088862
License type:
Countries covered: China

China Tourism Market (2004)

 

China has opened its travel agency market to foreign investors years ahead of the schedule it agreed with the World Trade Organization (WTO).

The country promised to allow the establishment of foreign-controlled travel agencies from December 11, 2004, when it entered the WTO three years ago, ChinaMarketResearch reported Tuesday.

And foreign investors will be permitted to set up wholly-funded companies by the end of 2007.

But China has lifted the ban on foreign-invested travel service providers much earlier than promised.

Last June, the China National Tourism Administration (CNTA) and the Ministry of Commerce issued a rule, giving a green light to overseas controlled or wholly owned travel agencies.

On December 1, 2003, approved by the CNTA, Jalpak International China Co Ltd, the first fully foreign-funded travel agency, and TUI (Touristik Union International) China Travel Co, the first Sino-foreign tourism joint venture controlled by foreign shares, was established.



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