According to the Regulation on the Administration of Tourist Agencies and the Tentative Provisions on the Establishment of Foreign-controlled and Wholly Foreign-owned Travel Agencies, foreign investors are permitted to establish foreign-controlled and wholly foreign-owned travel agencies in China, but each foreign investor is only allowed to establish one tourist agency with no branch permitted.
The topic summarizes the related rules & regulations, registration requirements, procedures, accounting & tax by SMERT, SAIC, Tax Bureau and other related departments you may focus on in relation to foreign invested travel agency (domestic business).