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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/thomas-cook-plans-chinese-venture.jpg"><img class="alignnone size-full" title="Thomas Cook is reportedly hoping to move into the Chinese market by 2012" src="http://londonglossy.com/wp-content/uploads/2010/11/min-thomas-cook-plans-chinese-venture.jpg" alt="Thomas Cook is reportedly hoping to move into the Chinese market by 2012"/></a></p>
<p>Travel group Thomas Cook is looking to form a joint venture with a Chinese travel company to further its emerging markets strategy.</p>
<p>Chief executive Manny Fontenla-Novoa wants to move into the Chinese market by 2012, the Sunday Telegraph said.</p>
<p>The plans follow a deal announced by the tour operator last week to buy a 50.1% stake in the former Russian travel agency, VAO Intourist.</p>
<p>China is the remaining part of Thomas Cook&#8217;s three-pronged emerging markets strategy.</p>
<p>In 2008, the group bought back the Indian travel business it had sold to the Dubai Financial Group two years earlier.</p>
<p>The partnership with VAO Intourist will look to tap into Russia&#8217;s strong demand for beach and family holidays, particularly to Turkey and Egypt.</p>
<p>Thomas Cook will initially acquire the stake for a maximum of 45 million US dollars (£28.5 million), with the option to purchase the remainder of the shares over the next five years.</p>
<p>Analysts expect Wednesday&#8217;s full-year results for Thomas Cook to show pre-tax profits down nearly 10% at £278 million.</p>
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