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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.

Source: New competition for Ctrip.com and eLong