According to an article from Yahoo News Asia, the United States and China have agreed to a reciprocal
visa arrangement with both sides offering 12-month multiple-entry
business and tourist visas. The move could greatly facilitate travel between the two countries.
Following the September 11, 2001 terrorist attacks on New York and
Washington, the US implemented higher visa requirements which made it
much more difficult for Chinese businesspeople, students and tourists
to travel to the United States. China reciprocated with increased restrictions on travel by Americans.
Thoughts on stock impact: This is promising news for Chinese travel companies CTRP and LONG. However, CTRP might consider building an English version of its online reservation system for the sale of domestic airline tickets. According to its web site, "English version of online reservation for airline tickets is currently not available".
