China's famous on-line supplier Elong Company and the world's leading financial institution Visa Group signed a five-year agreement in Beijing on Thursday to explore the world's fastest-growing on-line tourism market.

According to the agreement, the two sides will jointly establish a market promotion fund, and issue international credit cards "to provide more complete and rich on-line tourism service for customers."

Experts said the cooperation will provide convenience for travelers, increase tourism payment development and build a more complete tourism consumption environment.

In recent years, China's tourism has grown rapidly and its international status has continued to improve. Credit cards have gained popularity among international tourists due to its convenience and safety. As a combination of on-line tourism and e-business, on-line tourism payment services have made great progress.

By the end of last year, Visa covered up nearly 70 percent of China's international credit card market. Elong is a strategic partner of world's largest on-line tourism service company, IAC. Elong entered NASDAQ last October.

(Xinhua News Agency March 4, 2005)