FUZHOU, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- China Yida Holding Co., Ltd (OTC Bulletin Board: CYID) ("the Company" or "China Yida"), a leading comprehensive tourism and media management company, today announced that it has entered into a strategic partnership with the Nanjing Municipal Tourism Association to promote tourism at its flagship scenic destination, the Great Golden Lake.
This partnership endeavors to utilize the "no profit, no payment" marketing concept, whereby China Yida will provide promotional materials of the Great Golden Lake, including exhibits, signage and brochures, free-of- charge to the Nanjing Municipal Tourism Association's eight major travel agencies. Each travel agency will then launch advertisements for the Great Golden Lake at their own expense. In return, China Yida will pay a commission rate to each respective travel agency that is dependent on the number of tours to the Great Golden Lake scheduled by the agency.
Mr. Chen Minhua, chairman of China Yida, said, "China Yida's partnership with the Nanjing Municipal Tourism Association will help to attract many tourists from Nanjing to the Great Golden Lake and also broaden the influence of the Nanjing Municipal Tourism Association. The Nanjing Tourism Association will help expand its promotion of the Great Golden Lake's touring routes in the Yangtze Delta beyond Nanjing, and effectively help us promote our scenic destination in Wuxi, Shanghai and other neighboring areas."
In June 2008, the deputy director and president of the Nanjing Municipal Tourism Association led the general managers of eight major Nanjing travel agencies in an inspection of touring routes and scenic areas, including the Golden Lake and Shangqing River. The partnership with China Yida was formed in the beginning of July, and advertisements for the Great Golden Lake and its touring routes were launched immediately thereafter in major newspapers in the city of Nanjing.
Nanjing, located in the Yangtze Delta, is close to several developed cities, including Shanghai, Suzhou and Wuxi. And it is within one day's journey to the Great Golden Lake via highway, railway or flight. Nanjing's population is roughly six million, with a high per capita disposable income among its residents and great potential tourism demand. In addition, Nanjing's tourism industry is rapidly developing. The city received 46.05 million domestic and overseas tourists in 2007, according to its abundant tour resource, and is one of the first cities to be awarded the title of National Excellence in Tourism by China National Tourism Administration. In addition to Nanjing residents, tourists visiting Nanjing are a prime target for day trips to the Great Golden Lake scenic destination managed by China Yida.
About China Yida
China Yida Holding Co. is a leading management company focused in China's emerging and fast-growing tourism and media markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida offers operations management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites (primarily the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town.) The Company's media business also provides operations management services, including channel, column and advertisement management for television station (presently the Fujian Education Television station (FETV), a top-rated education television station at the provincial level whose advertisement management rights are wholly-owned by the Company).
About Nanjing Municipal Tourism Association
Nanjing Municipal Tourism Association is a coordination organization affiliated with the Nanjing Municipal Tourism Bureau, which is a comprehensive association of industry representatives. It bridges the communication between the government and its member enterprises, including scenic destinations, travel agencies and hotels. In addition to travel and hotel services, the Nanjing Municipal Tourism Association also has offices for automatic pilot tours, vehicle rentals, painting and calligraphy classes, tours of scenic sites, etc. The association also collects valuable industrial information for its members to share their experiences.
Forward-Looking Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at http://www.sec.gov under "Search for Company Filings.
For more information, please contact:
China Yida Contact:
Ms. Chen Xiao Xing
Vice President
Tel: +86-591-2830-8999
Email: chenxx@yidacn.net
Investor Relations Contacts:
Devin Jin
Taylor Rafferty, Shanghai
Tel: +86-21-6289-5658
Email: ChinaYida@taylor-rafferty.com
Delia Cannan
Taylor Rafferty, New York
Tel: +1-212-889-4350
Email: ChinaYida@taylor-rafferty.com
SOURCE China Yida Holding Co., Ltd.
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