China’s leading tour operator Utour has made an investment in Beijing Qiankun Express Business Consulting Co Ltd to start currency exchange services in Beijing.
A project manager at Utour said, “Currency exchange services are an important part of outbound travel. Many travelers choose to use the currency exchange service at banks which can be tedious. Most bank branches require that customers make an appointment in advance”.
“After Utour develops its currency exchange service customers can directly exchange currency at Utour offices instead. The domestic currency exchange market has a huge market capacity and is starting to develop rapidly with the increase in China’s outbound travel. Utour is trying to develop financial services to provide customers with comprehensive value added services”.
“The State Administration of Foreign Exchange is currently carrying out a reform of the foreign currency exchange system that will gradually broaden the scope of the travel industry’s financial operations. We believe that with the support of beneficial government policies the travel industry’s financial services will further develop”.(Translation by David)
