China's tourism speeds up after the nation joined the World Trade Organization (WTO), an official with the China National Tourism Administration (CNTA) said in Beijing on Wednesday.
Hotel industry in China is already opened in an all-round way, and almost all the well-known international hotel groups are already in China, said Shen Huirong, director of CNTA's International Department at the opening ceremony of China International Travel Mart (CITM).
In July 2003, CNTA approved the first application to set up a wholly foreign-owned travel agency in China, fulfilling its commitment to the WTO four years ahead of schedule.
At present, there are 5 wholly foreign-owned travel agencies and 13 joint venture travel agencies in China. CNTA also encouraged China's big tourist enterprises "to go abroad."
By the end of this year, Chinese tour groups will be allowed to visit 63 countries and regions. CNTA just signed tourism memorandum with two Carribean nations and three Latin American nations, which will allow group tourists to visit the above region in the near future.
The tourism industry was among the earliest opened in China and has been enjoying the highest level of opening up. With good investment and development environment, it is also an advantageous field designated by the government for foreign investment.
The entire scale of the use of foreign investment in the tourism sector in China reached 50 billion US dollars, accounting for about 11 percent of the total US$450 billion foreign investment that all industries have absorbed.
The World Tourism Organization forecasts that China will become the number one tourist destination and the fourth tourist generating country by the year 2020.
According to the long-term goal formulated by the Chinese government, by the year 2020, inbound tourist arrivals to China will reach 210 million. International tourism receipts in foreign exchange will reach US$58 billion and domestic tourism income will reach US$250 billion.
The total tourism income will surpass US$300 billion, representing eight to 11 percent of the country's GDP.
(Xinhua News Agency November 25, 2004)
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