China Travel Expects Best Ever Profit in 2001

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 ◆ China Travel Expects Best Ever Profit in 2001

China Travel International Investment Hong Kong Ltd. (0308.HK) said it will become the first foreign travel agent with a wholly owned China business, Hong Kong Economic Times reported, citing company Managing Director Shen Zhu Ying. The company, a unit of China's largest state-backed travel agency, is incorporated in Hong Kong and so is considered foreign. The company's net income will exceed analysts' forecasts of about HK$350 million ($45 million), Apple Daily said, citing Shen. China Travel will earn more than HK$500 million, compared with a previous record of HK$499 million in 1997, the paper sa China Travel Service (Holdings) Hong Kong Ltd., a recently acquired travel agency, will contribute guaranteed income of HK$180 million this year, the paper said.