Aug. 3, 2016 (Xinhua) -- The China Tourism Group Corporation was officially established with the merger of two state-owned enterprises (SOEs) under the direction of the country’s state-asset watchdog. The new company has become China’s largest tourism SOE and is regulated by the State-owned Assets Supervision and Administration Commission. The company will strive to become the top tourism company in China in the next few years, with the ultimate goal of becoming one of the world’s top 500 companies.