China, Germany to Establish Joint Venture Travel Agency

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Last updated at: (Beijing Time) Saturday, October 26, 2002

China, Germany to Establish Joint Venture Travel Agency

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The China Travel Service Group of China (CTS) and the German TUI Group have announced plans to set up a joint venture travel agency in Beijing. The cooperative agreement will be signed in a couple of days.

The joint venture will focus on luring European tourists to China and on business travel, said Liu Jiaxiang, chairman of CTS Group China.

Liu said the joint venture, with TUI's experience and management skills, will raise the overall level of China's travel agencies.

With over 70 tourism wholesalers, 3,700 travel agencies and nearly 100 planes, the TUI group is a famous international tourism enterprise.

CTS, founded 53 years ago, is China's first tourism enterprise. It is currently involved in travel, hotel, car, publishing and other industries.

The new company will be the third joint venture travel agency to be established in China.

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