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Research and Markets: Chinese Travel Agency Market Opened Up to Foreign Investors Years Ahead of ScheduleChina Travel Services
Research and Markets: Chinese Travel Agency Market Opened Up to Foreign Investors Years Ahead of Schedule DUBLIN, Ireland--(BUSINESS WIRE)--Aug. 4, 2005--Research and Markets (http://www.researchandmarkets.com/reports/c21904) has announced the addition of China Tourism Market Newsletters 2004 to their offering 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. 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. Some of the topics covered in this report include: - China Quickens Its Pace of Opening in Tourism as a 3-year WTO Member 2 - Marriott Intends to Open Two Hotels in Chengdu - CITIC Pacific to ink multi-billion yuan deal - Beijing to build more star-grade hotels for Olympics - Outdoor Ads Banned in Beijing's Special Areas - France Seeks to Lure Chinese Tourists - BTI Launches Joint Venture in Shanghai - CCTV to Launch Payment Channels - China's Tourism Revenue in First Five Months Surges - Borders Busier in First Half of Year - China Tourists Abroad Increase the Fastest For more information visit http://www.researchandmarkets.com/reports/c21904
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