Posted On 2016/07/20 By In News With 247 Views

China’s state-owned Tourism Giants merge

China’s state-asset watchdog said Monday the China International Travel Service (CITS) is no longer under its supervision as it has merged with another state-owned travel company.

Approved by the State Council, CITS is now a wholly-owned subsidiary of the China National Travel Service (HK), the State-owned Assets Supervision and Administration Commission (CSRC) said in a statement.

“The CITS is no longer under the CSRC’s supervision,” the statement said.

China National Travel Service (HK) Group is a leading travel group engaging in tourism, industrial investment, real estate development and logistics.


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Sources:

Article: China ORG / Image: WikiMedia

About

Stefan

Stefan (from Austria, Europe) has been living, studying and working in China since 2010. Stefan has worked on several research, publication and consulting projects focusing on the China Travel Market. He holds two Masters degrees and is an expert on China Outbound Tourism, Marketing and Social Media in China. Stefan works with BMG on the Global Ready China Seminars as well as the Global Ready China News and related projects. He also has teaching engagements in the areas of eMarketing and Tourism Strategy.

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