Travel Business to Expand in China

Released on = February 9, 2007, 4:01 am

Press Release Author = RNCOS

Industry = Industrial

Press Release Summary = To increase travel business in the country, Chinese
Government will now ease registered capital requirement on travel agencies funded by
foreign capitalists.

Press Release Body = Government of China will ease registered capital requirement on
travel agencies funded by overseas businesses from the coming July (1st July 2007),
divulges NTA (National Tourism Administration). This will come into effect four
months before the deadline (i.e. 11 November 2007) set by WTO (World Trade
Organization) for the accession of China.

NTA head Shao Qiwei said that same capital requirements would be imposed on foreign
as well as domestic travel agencies, quoted News agency Xinhua on 18 January 2007.
According to Qiwei the move was intended to overseas prominent travel agencies for
setting up their shops in China. Also, domestic agencies would be encouraged to
expand their business overseas.

China needs to further open its tourism sector so that global competitiveness of the
industry can be improved. By the year-end 2006, the country had given approval to 25
foreign controlled & foreign funded travel agencies.

NTA forecasts indicate that China tourism industry will thrive in the year 2007.
It’s expected that the industry will reach record high revenues of one
trillion Yuan, representing 10% increase on 2006. China is expected to see 129
million foreigners visiting the country this year, five million above compared to
last year.

China is expected to welcome almost 53.6 million tourists who’ll take at least
one night halt there. Approximately 1.39 billion indoor journeys were made in 2006,

As per the views expressed by a research analyst at RNCOS, “The China tourism
sector would continue to receive renewed support with relaxation of Govt. regulation
following the WTO access. Increased international connectivity and the setting up of
top of the line hotel chains in China ahead OF Beijing Olympics in 2008 would be
driving the industry in the future.”

RNCOS – a leading market research and analysis firm – has come up with
its most anticipated report on “China Tourism Industry: New Opportunities for
Growth (2007)”. The research report also addresses the issues and the facts
that are critical to business success, such as:

-- What are the emerging trends in the Tourism sector in China?
-- What is the future Outlook of the Tourism market in China?
-- Who are the Key players in the Tourism Market in China?
-- What opportunities exist for the Tourism market?
-- What Challenges are faced by the industry?
-- How is the market affected by other factors prevailing in the economy?

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

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Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
Ph- 91-11-4214-1229

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