1st tour JV in FTZ can run trips overseas
Print Edition
CHINA has approved the first Sino-foreign joint venture travel agency to operate in the Shanghai pilot free trade zone and organize overseas tours, the city’s tourism authorities said yesterday.
The Mediterranean Travel Agency Co has been approved by the China National Tourism Administration to register in the FTZ, the Shanghai Tourism Administration said.
It can now organize tour groups from Shanghai to overseas destinations including Hong Kong and Macau, but Taiwan is not included.
“It is the first time the restriction to operate overseas tours by joint ventures is lifted, and other joint venture travel agencies have applied and are waiting for approval,” said Zhu Guojian, deputy director of the policy and law division of the local administration.
The equally owned travel agency was set up by a Shanghai company and MSC Cruises in 2009 with a registered capital of 5 million yuan (US$805,000). It previously operated as MSC’s ticketing agent.
Chinese-foreign joint ventures are not allowed to operate overseas tours if they are registered outside the FTZ under the rules.
Talks are taking place on whether to grant approval to operate overseas tours to foreign-funded firms in the zone if they meet certain criteria, said Yang Jinsong, director of the administration. But tours to Taiwan are also not included.
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