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China Yida Holding Company Establishes Strategic Partnership with GuangZhiLv, China's Leading Travel Agency

2008-07-23 19:10 1124

FUZHOU, China, July 23 /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 established a strategic partnership with GuangZhiLv International Travel Agency (“GuangZhiLv”), one of the largest travel agencies in China’s Guangdong Province, to attract tourism for its flagship scenic destination, the Great Golden Lake. Under the terms of the agreement, China Yida and the GuangZhiLv will conduct a joint marketing campaign that will promote trips to the Great Golden Lake. As part of the marketing campaign, GuangZhiLv will place the Great Golden Lake at the top of their list of recommended scenic spots in Fujian.

Mr. Chen Minhua, chairman of China Yida, said, “We are pleased to gain a partner that is as well respected as GuangZhiLv, the first domestic travel agency to be branded with the ‘China Famous’ trademark. This trademark is given by the Trademark Office under State Administration of Industry and Commerce and signifies that GuangZhiLv has substantially penetrated the tourist markets in Guangzhou and the Pearl River Delta. With this partnership, we are confident that GuangZhiLv will help drive tourism and bring new visitors to the Great Golden Lake.”

“Earlier this year, the Chinese government altered China’s holiday structure, canceling the May 1st ‘Golden Week’ seven-day holiday, implementing a program of paid holidays and adding several traditional Chinese holidays to the calendar (such as Qing Ming, Dragon Boat Festival, Mid-Autumn Festival, etc.) This structural policy change allows for several extended weekends throughout the year, which is expected to boost popularity of recreational tourism in the China market. We believe that the Great Golden Lake will benefit from the additional recreational and weekend tourism, as the Great Golden Lake destination provide a culturally-rich experience that is well-suited for people of all ages.”

Last month, Mr. Wen Shuang, deputy general manager of GuangZhiLv International Travel Agency’s Domestic Tourism Department, and 23 members of his team toured and inspected four of the five major scenic spots at the Great Golden Lake: the Golden Lake, Shangqing River, Zhuangyuan Rock and Taining Ancient Town. GuangZhiLv also inspected other branded scenic spots in the Fujian area neighboring Guangdong Province. After visiting all the destinations, GuangZhiLv decided to partner with China Yida due to the Great Golden Lake’s unique tourist resources and the appealing combination of scenery, including a lake, river, mountain and city.

Together, China Yida and GuangZhiLv will develop and promote selective tour routes for the Great Golden Lake’s five scenic spots. The first group of tourists began their expedition through the Great Golden Lake in early July. GuangZhiLv also plans to join with other major travel agencies in Guangdong Province and develop new recreational tourism routes to the Great Golden Lake from Xiamen and Wuyi Mountain.

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 GuangZhiLv International Travel Agency

GuangZhiLv International Travel Agency Co., Ltd. is one of the largest, strongest and most well-known travel agencies that organizes tours in Southern China. Currently, it is the only domestic travel agency awarded “China Famous” trademark. GuangZhiLv has branch offices in Hong Kong, Macau, Beijing, Hunan, Sichuan, Malaysia, among others, and has hundreds of other travel agencies in the Pearl River Delta in China. It has the most complete sales network in the industry, with business operations in more than 80 countries worldwide.

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; (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

Phone: +86-21-6289-5658

Email: ChinaYida@taylor-rafferty.com

Delia Cannan

Taylor Rafferty, New York

Phone: +1-212-889-4350

Email: ChinaYida@taylor-rafferty.com

Source: China Yida Holding Co., Ltd.
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