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Creator Capital Ltd Ord CTORF

"Creator Capital Ltd operates in the electronic gaming and multimedia industry. The company offers in-flight gaming software systems and services by developing, implementing, and operating computer based gaming softwares."


GREY:CTORF - Post by User

Post by warrenbuffet99on Jan 10, 2002 12:27am
122 Views
Post# 4610699

China's Tourism Industry...

China's Tourism Industry...China's tourism industry racing full-steam ahead BEIJING - In 2001, China's flourishing tourism provided great vitality to the growth of its economy. Statistics show that tourism revenue has grown 12.7 percent annually in recent years, higher than the national average gross domestic product (GDP) growth rate of 7.4 percent. Tourism has quickly become a major new growth area for the domestic economy. The sound performance of China's tourism is in sharp contrast to the sluggish international tourism, and has drawn worldwide attention. China has become the world's sixth-largest tourist destination and is expected to become both the largest tourist market and tourist destination in the world in the near future. The World Tourism Organization has predicted that China is to be the world's largest tourist market by 2020. China has mapped out its 20-year tourism development plan which estimates that by 2020, the country's tourism revenue will skate past 3.3 trillion yuan (US$398.7 billion), equal to 8 percent of the country's total GDP. China obviously has what it takes to reach the goal, with its unique tourism resources and the world's biggest domestic tourism market. According to the plan, by 2020, the number of overseas tourists to China will reach between 135 million and 145 million, up 1.1-1.3 times over the figure from 1998. More than 73.34 million overseas tourists visited China during the first 10 months of 2001, an increase of 5.66 percent on the same period of 2000. The amount spent by the overseas tourists in the 10 months was estimated at US$14.8 billion, up 9.28 percent. The number of tourists from South Korea, Thailand, Russia and Japan maintained double-digit growth. China's major tourist source countries include Japan, South Korea, the United States, Russia, Malaysia, Mongolia, Singapore, the Philippines, Britain, Thailand, Germany, Canada, Indonesia, Australia and France. In 2000 China registered the arrival of 83 million overseas tourists, and its tourism revenue reached 450 billion yuan, with US$16 billion in foreign exchange and 320 billion yuan from domestic travelers. The latest figures show the fixed assets of the tourism industry reached 786.1 billion yuan by 2001, with 268,000 tourism businesses. There are now 8,993 travel agencies and more than 33.35 million tourism employees in China. China will focus on the comprehensive development of tourism by combining sightseeing with holiday-spending and special traveling so as to turn China into one of the world's leading tourist destinations. China now expects 90 million arrivals in 2002. The country now boasts more than 500 famous scenic spots, covering an area of 96,000 square kilometers, 1 percent of the country's land territory. It also has some 4,000 parks in cities, covering an area of more than 73,000 hectares. Among the famous scenic spots are Anhui's Huangshan, Jiangxi's Lushan, Sichuan's Ermei Mountain, Shandong's Taishan Mountain, Guangxi's Guilin-Lijiang tourism circuit, Guangdong's Xinghu at Zhaoqing, Zhejiang's West Lake, Beijing's Summer Palace, Hebei's Chengde Summer Resort, Jiangsu's Huqiu Hill in Suzhou, Yunnan's stone forest, Fujian's Wuyishan Mountain, Liaoning's Qianshan Hill at Anshan, Jiangsu's Shugang at Yangzhou, Hebei's Qinhuangdao-Shanhaiguan Scenic spot, Guizhou's Huangguoshu Scenic Spot, Shaanxi's Huashan Mountain, Hubei's Donghu Lake in Wuhan and, first and foremost, Beijing's Great Wall. Hotel service has developed rapidly in China to become an industry with considerable capacity. According to the China Hotel Association, there were some 270,000 hotels by the end of 2000, with an annual turnover of over 150 billion yuan. With China's accession to the WTO, more and more foreign hotel operators are coming to do business in the country. China now has more than 5,200 hotels designed for overseas tourists, among which 45 are five-star hotels. China is encouraging overseas investors to establish joint-venture travel agencies in the country, in order to expand the opening of the tourism sector to the outside world and promote the growth of China's tourism industry. There are now some 5,000 travel agencies in China, including some 1,000 international travel agencies. The three largest travel agencies in the country are China International Travel Service Group (CITS), China Travel Service Group (CTS), and China Youth Travel Service Tours Corp (CYTS). He Guangwei, director of the China National Tourism Administration (CNTA), said on Wednesday at a national conference in Bo'ao that tourism is expected to bring in $18.5 billion this year. The overall revenue from domestic and overseas tourists will be 535 billion yuan, 8 percent above last year. He said Hong Kong, Macau and Taiwan will contribute 85 percent to the total number of arrivals. The CNTA is the government organ in charge of the tourism industry. Its responsibilities include formulating tourism development guidelines and plans, drawing up tourism legislation and industry standards, marketing and training. It will enhance the network management of travel agencies this year, particularly during the holidays around National Day, May Day and the Spring Festival. Now that it is a full-fledged member of the World Trade Organization, China will speed up the opening of its travel service industry, Vice Premier Qian Qichen said on Wednesday. Addressing the national conference on the tourism industry, Qian said China will allow big-name international travel agencies to enter the country so as to learn from their management and expertise. Meanwhile, China will hone its approval system to stop the entry of unscrupulous small travel agencies, which might disturb the domestic market order, Qian said. The vice premier also called for the use of more overseas capital in developing the country's tourism resources, especially those in the remote western regions. To attract more overseas tourists, Qian said, China should market itself as the safest tourist destination in the world. Enhanced marketing efforts should be directed toward traditional markets such as Japan, southern Russia, the United States, Western Europe and Southeast Asia, while emerging markets such as India, Eastern Europe, the Middle East and Latin America should be further developed, he said. Leading foreign travel agencies will be encouraged to open joint ventures in China, and tourism should become a major industry of the country's vast western region. In addition to joint-venture travel agencies opened by foreign firms in China, leading domestic firms should also start travel services overseas. The central and western areas should take advantage of their rich and unique resources to turn themselves into new tourist attractions, said Qian. The travel-agency market is beginning to open. At this stage, foreign developers are allowed to be involved in joint-venture travel agencies in the country's 12 state-level holiday resorts. According to a new guide catalogue of industries for foreign investment, foreign investment is allowed in launching travel agencies, although wholly foreign-owned operations are not allowed. And from now on, China's unqualified tourist guides will find it difficult to survive because of stricter government supervision. Sources with the CNTA said in Bo'ao on Wednesday that China will set standards for guide behavior to bring more order to the industry. From this March, a legal and more transparent payment system will be established between tourist guides and travel agencies. Under-the-counter deals will be forbidden. Tourist guides will be graded according to their performances, and will be supervised on a national as well as local level. The number of tourist guides in China is increasing rapidly to keep pace with the booming tourism industry. According to experts' predictions, China will have 150,000 qualified guides by the end of 2002. Neighboring nations the prime target China will intensify tourism promotion campaigns in its neighboring countries this year, said He. "This year marks the 30th year of the normalization of Sino-Japanese relations. The CNTA and the Japanese tourism administration will jointly carry out the promotion." The CNTA will organize a tourism friendship exchange group to visit different regions of Japan this May. In addition, delegations from both sides will gather in Beijing to plant friendship trees at the foot of the Great Wall. He noted that 2002 marks the 10th year of the establishment of diplomatic relations between China and South Korea, and China also expects more tourists from there. He said the commencement of flights between China and India this year will also help bring more Indian tourists to China. China has so far signed more than 20 bilateral tourism agreements with foreign countries, many of which are neighbors.
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