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First Non-Chinese Funded Travel Agency In Beijing
Beijing, July 22: China has approved its first foreign-funded travel agency, letting a Japanese firm set up shop in Beijing as the tourism industry opens wider under World Trade Organisation obligations.
Beijing, July 22: China has approved its first foreign-funded travel agency, letting a Japanese firm set up shop in Beijing as the tourism industry opens wider under World Trade Organisation obligations.
The agency, Jalpak International Co, would have five million yuan (600,000 dollars) in registered capital and would focus on bringing Japanese tour groups to China, the Beijing Morning Post said Saturday.
Jalpak Co, which is affiliated with the Japan Airlines Group, brought 25,000 tourists to China last year through its Beijing office and hoped to raise that to 40,000 a year through the new company, the newspaper said.
The new firm would open for business by the end of the year, the Xinhua news agency said in an overnight report.
When it entered the WTO in late 2001, China agreed to allow more foreign competition in various industries from banking to telecommunications to travel.
Bureau Report
The agency, Jalpak International Co, would have five million yuan (600,000 dollars) in registered capital and would focus on bringing Japanese tour groups to China, the Beijing Morning Post said Saturday.
Jalpak Co, which is affiliated with the Japan Airlines Group, brought 25,000 tourists to China last year through its Beijing office and hoped to raise that to 40,000 a year through the new company, the newspaper said.
The new firm would open for business by the end of the year, the Xinhua news agency said in an overnight report.
When it entered the WTO in late 2001, China agreed to allow more foreign competition in various industries from banking to telecommunications to travel.
Bureau Report