Revised regulations benefit foreign-funded tourism agencies

Foreign-funded travel agencies that are registered in Shanghai and Chongqing and meet certain criteria will be permitted to conduct outbound tourism operations between October 8 and April 8, 2024, according to the revised China tourism regulations.

Taiwan is not included in the outbound tourism plan.

Previously, foreign-funded travel agencies registered in China were not permitted to conduct outbound tourism businesses involving Chinese mainland citizens traveling to Hong Kong, Macau, and Taiwan. But the State Council recently approved a revision of China's travel agency management regulations that allowed these agencies to do overseas business involving Chinese citizens.

Tourism insiders said it was a positive signal and marked the opening of China's tourism market.

Shanghai has 31 registered foreign-funded travel agencies, with 13 of them in China (Shanghai) Pilot Free Trade Zone.

The adjustment is expected to further expand the outbound tourism business scope of foreign-funded travel agencies, said Zhou Weihong, deputy general manager of Shanghai Spring Tour.

Zhou said foreign-funded travel agencies are expected to bring diversified and competitive products to the tourism market if they join the outbound tourism business sector.

It may lead to more competition for domestic players, but there is also room for cooperation opportunities.

Insiders said that even though outbound tourism remains suspended and the impact of the adjustment will not be felt immediately, it still means an opportunity for foreign-funded travel agencies.