16 | Thursday, February 28, 2019 HONG KONG EDITION | CHINA DAILY BUSINESS Thailand­based carrier starting Shanghai flights NokScoot Airlines to expand presence in nation’s burgeoning travel market By WANG YING in Shanghai NokScoot, said currently more than [email protected] 60 percent of its network operates in China, and the country is its most Low­cost carrier NokScoot Air­ important market. “The China mar­ lines, a joint­venture between Thai­ ket will always be our biggest mar­ land’s Nok Air and Singapore’s ket in terms of numbers,” the CEO Scoot, on Tuesday expanded its foot­ said. print in China with direct flights More and more Chinese and between Shanghai and Bangkok. international airlines are adopting Set up in 2014, Thailand­based the low­cost model and launching NokScoot already flies to Nanjing in flights between Chinese cities and Jiangsu province, Qingdao in Southeast Asian destinations in Shandong province, Tianjin, Shen­ recent years. yang and Dalian in Liaoning prov­ AirAsia launched 12 new routes ince, Chongqing, and Xi’an in to Chinese cities including Kun­ Shaanxi province on the Chinese ming, Chongqing, Xi’an and Cheng­ A NokScoot Airlines plane gets ready for takeoff at the Don Mueang International Airport in Bangkok, Thailand. PROVIDED TO CHINA DAILY mainland. du last year after entering the NokScoot is initially operating China market 15 years ago, accord­ four weekly flights from Bangkok to ing to industry reports. The carrier Shanghai, with frequency becoming currently operates 74 flights to Chi­ “Along with Chinese people’s “There is tremendous growth ing to Yuan from China Merchants number of Chinese tourists travel­ daily from March 4. The carrier will nese cities. consumption upgrade, we have potential in China as less than 10 Securities. ing to Thailand stood at 10.5 million use widebody Boeing 777s with a Jetstar Asia has been offering seen a growing number of Chinese percent of the population hold pass­ In comparison, about half of US last year, up 7 percent on a yearly total capacity of 415 seats on the direct services between Singapore people opting for overseas travel, ports. This offers huge prospects for citizens travel by air annually. So basis,” said Sasirit Tangulrat, con­ route. Company officials remained and Xuzhou in Jiangsu province with Southeast Asian nations the carriers,” said Sudhidhanakul from there is a huge market potential in sul­general of Thailand in Shang­ confident that the new route will since January. It has 80 weekly top choices,” said Yuan Ding, an NokScoot. China’s air travel and low cost avia­ hai. not only boost its presence, but also flights to six destinations on the Chi­ industrial analyst from China Less than 2 to 3 percent of the Chi­ tion markets, he said. “We have crossed the 10 million enable it to tap into China’s bur­ nese mainland, Hong Kong and Tai­ Merchants Securities. nese population take international “Thailand has become a top desti­ mark … the second is 1 million plus, geoning travel market. wan, according to a China Aviation “Low­cost aviation is becoming flights in a year, and only 10 percent nation for Chinese tourists, thanks so there is a huge gap between China Yodchai Sudhidhanakul, CEO of Daily report. popular globally,” said Yuan. or so take a flight every year, accord­ to the growing travel demand. The and the rest,” added Sudhidhanakul. Home Inns — to help the new brand population and the world­class to take off, Sun said. infrastructure (in China), such as Hyatt teams up with BTG for brand in China Two model hotels of the home­ new airports and high­speed train grown brand, which is positioned lines, will boost leisure trips and cre­ in between BTG Yitel Premium ate demand for quality hospitality,” By XING YI in Shanghai Group, which has more than 3,000 country’s hospitality market. lished foreign brand,” he said. and Hyatt Place, will be opened in he said. [email protected] hotels across China, will hold a 51 According to Sun, BTG has been In 2012, BTG joined hands with 2020 in Beijing and Shanghai. Zhao Huanyan, chief analyst for percent stake in the joint venture scouting for potential alliances with European hotel group Kempinski Stephen Ho, president of Hyatt in the hotel industry at Huamei Con­ Hyatt Hotels Corp, a US­based with Hyatt affiliates taking the rest. international hotel groups for many Hotels for a Chinese luxury hotel China, said the collaboration is sultancy, said in recent years several hospitality chain, and Beijing­based The new venture will have regis­ years. The company chose to adopt a brand Nuo, which now has two expected to provide the US chain international hotel groups have BTG Hotels (Group) Co Ltd have tered capital of 180 million yuan different approach to cooperation hotels in Beijing. with deeper China insights, build started licensing their midscale formed a joint venture to create an ($26.6 million) and investment unlike the existing pattern of Chi­ The new upper midscale brand brand awareness and grow loyalty brands in China, leading to fierce upper­midscale brand in China to plans of 500 million yuan. nese hotel companies developing with Hyatt will be run by the joint with a new set of travelers. competition. capitalize on the country’s expand­ Sun Jian, general manager of the domestic market with foreign venture, and both Hyatt and BTG “We are optimistic about the Chi­ “BTG needs new selling points to ing travel and tourism market. BTG and chief executive officer of brands. “We don’t want to be a ‘sur­ will provide their resources — the nese market,” said Ho, who was the retain its clients and the coopera­ Under the agreement that was Home Inns, said the new brand will rogate mother’, and prefer to build a international management experi­ CEO of Marriott in China before tion with Hyatt will bring recogni­ inked in Shanghai on Tuesday, be launched in June, targeting the new brand with foreign partners ence and quality control from Hyatt joining Hyatt in 2018. tion for its Home Inns and attract BTG’s affiliate Home Inns Hotels middle to high­end segment of the instead of just introducing an estab­ and the large local network from “The growing middle­income more property owners,” he said. Daily Stock Market Performance GainersGainers and andLosers Losers International Stock Markets Daily YTD Daily Daily Daily YTD % Chg Index Close % Chg % Chg GAINERS Close % Chg LOSERS Close % Chg Close % Chg –15% 0% +15% Shanghai Stock Exchange Composite Index 2953.82 +0.4 +18.4 Shanghai Stock Exchange Hang Seng Index 28,757.44 –0.1 3450 Sichuan Hongda Co Ltd 3.48 10.13 Eastern Gold Jade Co 5.09 –10.07 Hang Seng China Ent Index 11,457.27 –0.8 3200 Maoye Commericial Co 5.56 10.10 ChangshuFengfnPwEqpmnt 8.61 –10.03 TAIEX Taiwan Stock Index 10,389.17 0.0 ZhejiangTianchngCntrls 9.63 10.06 Pengqi Technology Dev 5.75 –10.02 Nikkei 225 21,556.51 0.5 2950 Jiangsu Holly Corp 9.98 10.03 Hunan New Wellful Co 6.75 –10.00 Sensex 35,910.78 –0.2 KOSPI 2,234.79 0.4 2700 Wuxi Huaguang Boiler 10.42 10.03 Xinhuanet Co Ltd 22.50 –10.00 Nanjing Securities Co 14.15 10.03 Anhui Quanchai Engine 11.44 –9.99 S&P/ASX 200 6,150.27 0.4 2450 Shanghai DZH Ltd 7.13 10.03 Xinjiang Tianfu Energy 4.79 –9.96 New Zealand 50 Gross Index 9,281.47 –0.4 InnerMnglJnzhngEn&ChmI 3.73 10.03 Tongwei Co Ltd 11.75 –9.96 Straits Times Index STI 3,248.43 –0.4 Luxin Venture Capital 26.02 10.02 WuhanBesterGrp Telecom 34.49 –8.37 Bangkok SET Index 1,667.58 0.2 Bursa Malaysia KLCI Index 1,713.45 –0.3 Shenzhen Stock Exchange Component Index 9005.77 –0.9 +24.4 SichuanMinjiangHydrpwr 14.61 10.02 Hangzhou Adv Gearbox 11.72 –7.79 VN-Index 990.27 0.3 11,500 Shenzhen Stock Exchange Dow Jones 26,057.98 –0.1 ZhongfuStraitsPingtnDv 4.24 10.13 GuangdongHomaAppliancs 5.32 –9.98 10,000 Shaanxi International 5.36 10.06 Risen Energy Co Ltd 9.40 –9.96 HunanTV&BrdcstIntrmdry 8.32 10.05 Fujian Sunner Dev 25.54 –8.33 Commodities 8500 Shenzhen Infogem Tech 13.06 10.03 TianmaMicroelectronics 15.45 –8.15 Daily YTD % Chg Eastone Century Tech 6.15 10.02 NanjngHdngElInf&Tchnlo 2.23 –6.69 Close % Chg –25% 0% +25% 7000 Ciwen Media Co Ltd 9.90 10.00 GuangdongLYIntllgntMfg 4.50 –6.64 Brent Crude Oil (USD/bbl.) 65.31 0.2 Jiangsu Guoxin Corp 9.58 9.99 ShenzhenEverwinPrecTch 11.58 –6.54 Gold (USD/t oz.) 1328.50 –0.1 SichuanChngfIntgrtnTch 18.28 9.99 Sungrow Power Supply 11.44 –6.31 Silver (USD/t oz.) 15.93 0.0 China Media Group 4.09 9.95 BOE Technology Group 4.14 –5.91 Copper (USD/lb.) 2.95 0.1 Shanghai Shenzhen CSI 300 Index 3678.39 –0.2 +22.2 Aluminum (USD/MT) 1893.00 0.2 BeijingUltrapower Sftw 4.65 9.93 TianjinZhonghuanSemicn 9.37 –5.73 4200 Corn (USD/bu.) 3.76 –1.1 3950 Hang Seng Wheat (USD/bu.) 4.68 –1.0 CK Asset Holdings Ltd 67.20 1.97 AAC Technologies 48.00 –4.95 Soybeans (USD/bu.) 9.17 –0.9 3700 AIA Group Ltd 77.00 1.65 WH Group Ltd 7.05 –4.21 Coee (USD/lb.) 0.97 –3.1 3450 CK Hutchison Holdings 84.70 1.62 Sunny Optical Tech 93.55 –2.55 Sugar #11 (USD/lb.) 0.13 0.3 3200 CLP Holdings Ltd 93.70 1.46 China Life Insurance 21.75 –2.47 Palm Oil (MYR/MT) 2147.00 –1.6 2950 Hang Seng Bank Ltd 194.80 1.25 Geely Automobile 15.04 –2.34 Cross Currency Rates ETFS Shanghai B-Share Stock Price Index 300.17 –0.4 +10.7 Daily % USD EUR CNY HKD GBP KRW BRL RUB JPY INR CAD EQUITY ETFs Ticker Close Change 340 USD 1.140 0.150 0.127 1.328 0.001 0.267 0.015 0.009 0.014 0.760 China 50 510050 2.74 0.29 China AMC CSI 300 Index 510330 3.67 –0.51 310 EUR 0.878 0.131 0.112 1.165 0.001 0.234 0.013 0.008 0.012 0.667 China CSI 500 510500 5.36 –0.80 CNY 6.679 7.612 0.851 8.869 0.006 1.782 0.102 0.061