Rosenbluth International Expands Presence in Asia Pacific through Agreement with China Comfort.Business and Travel Editors PHILADELPHIA--(BUSINESS WIRE)--June 18, 2001 MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. is the First to be Recognized by The China National Tourism Administration The China National Tourism Administration (CNTA) is the Chinese government authority responsible for the development of tourism in the country. The CNTA is subordinate to the State Council. Its headquarters are in Beijing, with regional branches in various provinces. Rosenbluth International, one of the world's largest travel management companies, continued to expand its presence in the Asia Pacific region with its signing of a historic Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. agreement with China Comfort, one of the largest Chinese Chinese, subfamily of the Sino-Tibetan family of languages (see Sino-Tibetan languages), which is also sometimes grouped with the Tai, or Thai, languages in a Sinitic subfamily of the Sino-Tibetan language stock. travel agencies. The proposed agreement, signed June June: see month. 16, is expected to be the first by which a US travel company will be officially supported by the Chinese authorities. "It is a great honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft. to be selected by the Chinese National Tourism Administration and to be a part of China's official trade mission with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ," said Rosenbluth International Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Hal Rosenbluth. "Our proposed agreement with China Comfort will not only give each party access to new business opportunities, but will allow Rosenbluth International a unique opportunity to make a positive contribution to the development of the Chinese travel industry." To formalize the agreement, the two companies signed the MOU at Rosenbluth International's global headquarters in Philadelphia, PA. Participants included Chairman He Guangwei, head of the China National Tourism Administration, Mr. Li Jilie, president, China Comfort and several senior level executives from Rosenbluth International including Hal Rosenbluth, chairman and CEO, Alex Wasilov, president and Pieter Rieder, vice president, Strategic Markets. The signing coincided with Chairman He's official trade mission to expand trade and tourism with the United States. Rosenbluth International chairman Hal Rosenbluth joined the official Chinese delegation in Washington on June 15, at an official reception to launch this important visit. Others in attendance included former US Ambassador to China James Sasser and Bob Kapp, president of the US-China Business Council. Rosenbluth International's invitation and participation in this meeting further demonstrates the close ties and goodwill that exists between the two companies and bodes well toward future opportunities. "The Chinese economy is set to be the world's leading emerging market over the next five years," said Pieter Rieder, Rosenbluth International's vice president, Strategic Markets. "Many of Rosenbluth International's global clients have rapidly expanding business interests in China, and our new agreement will allow us to support them in this key area, when they need us most. This will be a long term relationship, and one which we hope will have significant benefits for both parties." Rosenbluth International, headquartered in Philadelphia, Pa., USA, is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with one of the largest presence in the world. Rosenbluth International provides comprehensive corporate travel management services worldwide. With annual sales in excess of 6 billion USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. and 5,500 associates, Rosenbluth International owns and manages locations in 24 countries, with joint ventures and affiliations in several other countries. Founded in 1892 and recognised as a leader in integrated information management, Rosenbluth International continues to develop innovative business applications and integrated systems that enable it to provide highly personalised Adj. 1. personalised - made for or directed or adjusted to a particular individual; "personalized luggage"; "personalized advice" individualised, individualized, personalized service to its clients. The travel management company has also been ranked among FORTUNE magazine's 100 Best Companies to Work for in America. Rosenbluth International is located on the World Wide Web at http://www.rosenbluth.com
Notes to editors:
-- The announcement is part of an official trade and tourism
mission to the United States by the Chinese Government.
-- The memorandum of understanding and plans for proposed joint
activity have been developed with the official approval and
assistance of the US and Chinese governments.
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