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Chinese Travel Agency Prepares For Listing
November 5, 2007 |
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News from the China International Travel Mart 2007 in Kunming is that China International Travel Service Head Office and China Duty Free Group are planning a transformation and preparing for listing under the umbrella of China International Travel Group Company Limited.
They will take advantage of the capital markets for raising funds to expand within China's booming tourism industry. CITS group will utilize foreign investment to integrate essential resources in order to push CITS to greater international markets.
According to development plans quoted in local media, CITS will add 15 agencies for outbound travel and build five regional headquarters in Europe, America, Australia, East Asia and Southeast Asia. There will be an additional 35 travel agencies in China and three new regional headquarters in China's north, east and southern areas.
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