FCm Travel Solutions has bolstered its equity
operations in Mainland China after becoming one of the first
foreign-owned travel companies to establish a wholly-owned international
ticketing agency in Beijing, with a view of opening wholly-owned branch
companies in other Chinese cities.
FCm is also one of the only foreign travel
management companies to own more than 51% of its other operations
FCm first established a China foothold in 2004
through a joint venture with China Comfort Travel Co, the nation’s
third largest travel agency at that time.
“Since then, we have organically expanded into
Shanghai and Guangzhou and now own 95% of our Chinese
operations,” said general manager for FCm Greater China, David
“China was the first offshore market in
which the FCm business was established and we have always sought
to build our equity presence here, due to the strong growth of the
corporate travel market and the success of our local business.”
New changes to regulations removing all restriction on
foreign travel agents should create further opportunities
for FCm in the latter half of 2009.
“We welcome the Regulations on Travel
Agencies that will take effect on 1 May, as they will
potentially create more options for how our business is
structured in China and how our clients can be
serviced,” Mr Fraser said.
“As an example, the regulations may open up more
possibilities for FCm to provide outbound tours and group travel,
and also more easily expand into other cities,”
“Foreign-owned companies will also be able to apply for
100% foreign-owned travel agency licenses, which will give us the
scope to undertake further organic growth of our business in this
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