Tourism


Travel service agencies

Upon accession , foreign service providers must meet certain qualifications before they can provide services in the form of joint ventures , such as:

  • they must be professional tour operators or travel agencies

  • annual world-wide turnover must exceed US$40 million

  • registered capital not less than 40 million renminbi.

Within three years after accession, the required minimum registered capital for joint venture travel agencies/tour operators will be reduced to RMB2.5 million and foreign majority ownership in a joint venture will be permitted. Within six years after accession, wholly foreign-owned travel agencies will be permitted in China, and the geographical restrictions and limitations on wholly foreign-owned subsidiaries will be removed.

Hotels

Upon China's accession, foreign investors shall be permitted to hold the majority ownership in joint- venture hotels. Within four years after accession, there will be no restrictions on market access and wholly foreign-owned subsidiaries will be permitted.




Doing Business with China
Doing Business with China
ISBN: 1905050089
EAN: 2147483647
Year: 2003
Pages: 648
Authors: Lord Brittan

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