Fortune Capital and China's National Small and Medium-size Enterprises Development Fund has made a RMB120 million (US$17 million) investment in Meiya, an online flight ticket search and business travel management platform.
"With the rapid development of the outbound travel market, the demand for international flight tickets is increasing significantly," said Jia Wei, a partner at the National SMEs Development Fund, a government policy investment vehicle tasked to support small and medium-sized enterprises in China.
"In 2016, only 7% Chinese companies use business travel management system, which is much lower than 40% in western countries. With Meiya's resource and featured products, business travel management sector will become the main revenue resource for Meiya," Wei added.
"The business travel management is a RMB200 billion market...
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