China Tourism Group Corporation Established

Earlier this month, the China National Travel Service Group Corporation was established as a result of the merger of two state-owned enterprises (SOE), China National Travel Service (HK) Group and China International Travel Service Group (CITS). 

The new company is China’s largest tourism SOE. China Tourism Group Corporation, which operates hotels, theme parks and leisure resorts, will strive to become the top tourism company in China over the next few years, with the ultimate goal of becoming one the world’s top 500 companies.