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| | People's Daily Online -- CITS to acquire China Duty Free Group |
 | | China International Travel Service (CITS) is to incorporate the China Duty Free Group to set up a tourism aircraft carrier that is expected to be officially launched by the end of this year, China Daily reported Thursday. |
 | | Zhang Beiying, deputy general manager of CITS Head Office, said the incorporation would help the new group become a world leading tourism giant, taking advantage of both sides in terms of scale of assets, business network, professional personnel and operation experience. |
 | | Set up in 1954, CITS currently has more than 20 exclusively-invested or controlling companies and around 150 franchise institutions on the Chinese mainland and operates 14 overseas subsidiaries in the United States, Japan, Australia, Hong Kong, Macao and some European nations. |
| english.peopledaily.com.cn /200408/26/eng20040826_154865.html (490 words) |
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