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National Travel Authority
Ministry of Commerce
17 February 2005
In order to satisfy
the need for the open of travel industry and to stimulate its development,
the Ministry of Commerce has announced the amendment for "Temporary
Regulations For Set Up The Foreign Enterprise Holdings Or Wholly
Foreign Owned Traveling Companies".
The briefly contents
of the amendments are as follows:
- Reduce the minimum
register capital of Foreign Enterprise Holdings or Wholly Foreign
Owned Travel Companies from RMB 4 million to RMB 2.5 million.
- Cancel the area restriction for the set up of Foreign Enterprise
Holdings or Wholly Foreign Owned Travel Companies.
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