China's central state-owned enterprise, China Tourism Group, is leading the formation of another central SOE cruise operation platform company.
According to a report by China Central Television (CCTV), the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council convened a meeting on the 21st to advance the professional integration of central enterprises and held a key project signing ceremony, where 8 groups of projects were signed together to jointly promote specialized integration.
The projects involve 17 units, including central SOEs, private enterprises, and local governments, covering several key areas such as new materials, artificial intelligence, the cruise industry, inspection and testing, among others.
Among the signed projects, China Tourism Group is leading the formation of a central SOE cruise operation platform company. After this round of specialized integration, the fleet’s reported scale ranks first in Asia.
Li Ming, General Manager of China Tourism Group Huaxia Cruises, said: “The driving effect of the cruise industry is extremely significant, with an industrial driving coefficient as high as 1:10 to 1:14. That is, for every 1 yuan (0.58 sen) of revenue generated by the cruise industry, it can drive 10–14 yuan (5.83–8.16 ringgit) of economic benefit in related upstream and downstream industries.”
An official from the State-owned Assets Supervision and Administration Commission said that specialized integration must comply with the industry and technological development trends of the future, adhere to long-termism, and resolutely avoid blind pursuit of short-term scale through unrelated diversification and disorderly expansion. Integration should focus efforts on the “high-end,” prioritizing the consolidation of similar businesses, eliminating low-level repetitive construction, and improving overall efficiency and effectiveness.
According to the group introduction on China Tourism Group's official website, China Tourism Group is an important state-owned backbone enterprise directly managed by the central government, with its headquarters in Hong Kong.