American Express Eyes China's Business Travel Market

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Last updated at: (Beijing Time) Saturday, March 01, 2003

American Express Eyes China's Business Travel Market

American Express intends expanding its business travel services network into 40 more Chinese cities in the next 12 months, a senior company official said in Shanghai.

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American Express intends expanding its business travel services network into 40 more Chinese cities in the next 12 months, a senior company official said in Shanghai.

By then, the company would be able to offer all-round services ranging from network aid, planning and consultancy, to analysis and booking services, said Charles Petruccelli, president of the Global Services of American Express.

A survey by American Express, which already has a joint venture in Beijing, shows China spends up to 10 billion US dollars on travel and related services each year, with 4 to 5 billion US dollars on business travel.

If China keeps up its current growth, within five years it could feasibly boast a vast business travel market close behind those of the United States or Japan, according to American Express.

The past seven months have seen a rocketing sales income growth rate of 200 percent for the CITS-American Express Travel Services Ltd, a joint venture co-sponsored by American Express and the China International Travel Service (CITS), a travel leader in China.

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