Home > > Chinese hotels to accept foreign bank cards; AIoT firm raises $278 million | Daily Brief

Chinese hotels to accept foreign bank cards; AIoT firm raises $278 million | Daily Brief

04/10/2024| 7:26:40 PM| ChinaTravelNews

South Korean visitors in China surge 9 times; Vietnam Airlines, China Southern plan joint venture.

China tells mid- to high-end hotels to accept foreign bank card

Chinese hotels with three-star ratings or more have been told to accept payments with foreign bank cards, as the government tries to make it easier for visitors to travel in the country and give the economy a boost. Major tourist attractions have also been instructed to accept overseas bank cards, as well as support payments in cash and increase foreign-exchange services.

South Korean visitors in China surge 9 times year-on-year in January

South Korean tourist arrivals in China rose more than nine times year-on-year in January, data released by the South Korean authorities showed, indicating a clear recovery in inbound tourism in the post-pandemic era, according to media reports. Experts said that multiple factors are driving the growth, including China's enhancement of tourism promotion, and they predict that international arrivals, including from South Korea, will rise.

China to launch month-long tourism promotion campaign

China's Ministry of Culture and Tourism said Tuesday that it will launch a month-long nationwide campaign to promote tourism in May. The ministry plans to select six cities to highlight their tourism specialty. It has urged local governments to adopt preferential measures, such as issuing tourism consumption coupons and organizing non-profitable entertainment events.

Terminus Group raises $278 million in Series D funding round

AIoT company Terminus Group has raised RMB 2 billion (USD 278 million) in its Series D funding round, led by AL Capital, Yuyao Yangming Equity Investment Fund, and followed by Futian Capital Holdings and more. The round also saw participation from existing investors including China Everbright and SenseTime. With the raised funds, Terminus Group will further the research and development of its AIoT technologies, expand its business to the broader global market, and accelerate the large-scale industrial application of AIoT-based multimodal LLMs.

Virtual reality theme park offers visitors a visual feast in Nanchang

China's Nanchang VR Theme Park in Jiangxi Province is boosting the development of local cultural and tourism sectors by offering visitors a visual feast. Covering over 50,000 square meters, it is equipped with the second largest circular-screen cinema in China and has dozens of top-level VR experience facilities such as a virtual cockpit of the Boeing-737 airplane and Slide VR, a water slide simulation facility.

Vietnam Airlines, China Southern plan to form joint venture

Vietnam Airlines and China Southern Airlines intend to deepen their relationship by forming a joint venture, reflecting the growing importance of the travel market between their countries. The airlines are already codeshare partners, and in September 2022 they signed a deal to enhance cooperation.

Juneyao Airlines full year 2023 earnings: misses expectations

Juneyao Airlines reported an annual revenue of RMB 20.1 billion for 2023, missing analyst estimates by 2.1%. Looking ahead, revenue is forecast to grow 14% per annum on average during the next 3 years.

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