China will open its market to foreign travel agencies
from July 1, about four months ahead of the November 11
deadline set by the World Trade Organisation (WTO), a
senior official said.
which is set to replace the United States as the world''s
third most popular tourism destination, will fully open
its market to foreign travel agencies from July 1, head
of the China National Tourism Administration, Shao Qiwei,
means foreign-funded travel agencies can set up subsidiaries
in China without restrictions, and requirements on the
registered capital of foreign-funded travel agencies will
also be eased,'''' Shao said.
opening of China''s tourism industry will further boost
the industry''s overall quality and improve its competitiveness
in the world, he said.
welcome the entry of the world''s big tourism companies
and well-known brand names into China. It will help enhance
the competitiveness of Chinese tourism enterprises,''''
the China Daily quoted Shao as saying.
ventures and solely foreign-funded agencies were so far
not allowed to operate outbound tours. So the full opening-up
is still good news for overseas investors.
has the largest domestic tourism market and is the world''s
fourth most popular destination. Last year, China accounted
per cent of the global tourism market, a growth of 0.3
per cent compared with two years ago.
statistics show the number of domestic travellers last
year was 1.39 billion, and the administration forecasts
the number will be 1.78 billion by 2010.