Tongcheng Travel Holdings, Parent company of China’s Hunan Airlines has acquired 100% stake in online travel agency Beijing Tongcheng Tourism Investment Group for $102 million, the company declared in Hong Kong stock exchange filing. The filing read that the company “has been exploring potential acquisition, investment, joint venture, and partnership opportunities,” as since November 2022 when China abruptly dropped its pandemic prevention and control strategy “the tourism industry has embarked on a real opportunity to commence its recovery.” “In recent months, various tourism and travel activities of Chinese citizens have spiked significantly, with business activities of tourism-related sectors returning to

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