New competition for and eLong

Includes: CTRP, LONG
by: David Jackson

According to the Guangzhou Daily (via the China Stock Blog), China Southern Airlines has signed an agreement with a British company to set up an online business travel services joint venture in China. China Southern Airlines and the British company will each invest $210 million. They also plan to jointly open 1,000 physical stores in three years. Airfare and hotel booking services will be the company's primary businesses.