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Shanghai (AFP) May 24, 2010 Marriott International said Monday it aimed to double the number of hotels it operates in China within five years, making the country its most important market outside North America. Marriott currently has 45 hotels in China including its JW Marriott, Renaissance, and Ritz-Carlton brands, the company said in a statement, adding it expected the number to rise to 60 by year's end and to 90 by 2015. "China is arguably the world's most compelling tourism market today," J.W. Marriott Jr., chairman and chief executive officer, said in the statement. The country's booming tourism industry will host 2.1 billion domestic and international travellers this year, an increase of 12 percent over last year, he said. "Within the next 10 years, China is expected to be the world's single largest source of international tourism and its number-one travel destination," he added. Marriott on Monday announced seven new management agreements with Chinese real estate companies, including firms in the northeastern port city of Dalian, the southern resort city of Sanya and the eastern lakeside city of Hangzhou. The statement did not disclose any financial details. The New York-listed company also announced it would invest 500,000 dollars over two years in a water preservation project in the southwestern province of Sichuan. The project will encourage communities in the mountainous region to engage in green businesses such as mushroom farming and honey production to help improve the quality of water flowing downstream to other rural and urban areas.
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US says preparing to ease high-tech export controlsBeijing (AFP) May 21, 2010 The United States may soon ease restrictions on some high-tech exports to China, US Commerce Secretary Gary Locke said Friday - a move that Beijing has demanded for years. US President Barack Obama last year ordered a full review of Washington's export-control regime and hopes the process will be completed in the next few months, he told reporters ahead of key Sino-US economic talks next we ... read more |
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