BuGenTuan announced that it has just received tens of millions of yuan in its series A round from undisclosed investors.
China's Fosun Group, owner of French resort operator Club Med, considers an IPO to help fund expansion in China, its second biggest market for sales.
UTour’s operating revenue grew 41.99% to RMB 4.453 billion in first six months. Revenue from its outbound wholesale business was RMB 3.43 billion, up by 59.03% YoY.
CYTS recorded a slight increase in main revenue to RMB 4.976 billion in the first half of 2016. Net income rose 92.17% YoY to RMB 318 million.
China's largest tourism state-owned enterprise wants to become one of the world's top 500 companies.
Domestic travel in China grew 10.47% to 2.236 billion trips in the first half of 2016, and tourism revenues rose 12.4% to RMB 2.25 trillion.
Tourism-related entrepreneurship and innovation created around 3.3945 million jobs in China in 2015, accounting for 12.13% of direct employment in the industry.
China's authority has approved eight companies to run pilot programs for tourist guide management, including reserving a guide with clearly marked prices in some cities.
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