American Express taps Chinese tourism market ( 2003-11-04 11:06) (Xinhua)
American Express, one of the largest tourism and transportation companies in
the world, has signed a cooperative agreement with the China International
Travel Agency recently to tap the Chinese tourism market.
According to the agreement, American Express will cooperate with 15 branches
of the CITA to set up a tourism service network, covering 15 major tourism
cities including Nanjing, Suzhou, Wuxi, Tianjin and Shenzhen.
Under the agreement, the 15 CITA branches are entitled to use the American
Express service network in more than 140 countries and regions of the world.
American Express will also help train tourism professionals from employees in
the 15 branches.
According to China's commitment to the World Trade Organization, the country
will open its tourism market gradually in the future. By the end of 2003,
foreign investors will be allowed to take a majority share in joint ventures. By
2005, solely foreign-funded tourism agencies will be allowed to set up.
The US-based American Express has some 1,700 tourism agencies across the
world.
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