China Tourism Industry Newsletter
China Market Research, May 2013
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. 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.
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.
This is an industrial newsletter covering the Tourism market inside China.
These newsletters are monitored and translated by our industrial specialist from various Chinese industrial newspapers and magazines. These industrial newsletters give readers a general view of the development trends of a certain industry. The newsletters, which are being renewed each month, are subscribed on a yearly basis.
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