NetEase, one of China’s leading Internet and online game services providers, has announced that its wholly-owned subsidiary Lede Technology has signed a partnership agreement with HNA Group to form a joint venture company.

The new venture will establish an all-new internet travel company.

In December 2014, the two companies had signed a strategic framework cooperation agreement to become partners in the sectors of Internet travel and travel finance.

For the new Joint Venture just announced, Lede Technology will leverage its strong experience and knowledge of Internet technologies to provide the Joint Venture with technical and marketing support, while HNA Group will utilise its operational expertise in the tourism and travel finance sectors to take charge of the Joint Venture’s new products and initiatives.

HNA Group was founded in 1993.

Developed from a local aviation transportation operator to a conglomerate encompassing core divisions of aviation, holdings, capital, tourism and logistics, HNA Group’s business outreach has expanded from Hainan Island.

The company now has assets valued at over RMB450 billion, and has 11 listed companies.

In 2014, HNA Group reaps revenues of around RMB170 billion and with more than 110,000 employees worldwide.

After 20 years endeavour, HNA Group recently saw wholly-owned carrier Hainan Airlines take the title of World’s Leading Airline – Business Class at the World Travel Awards, while Tangla Hotels was recognised as Asia’s Leading Lifestyle Hotel Brand.

NetEase vice president and Lede Technology chief executive Fang Rui stated: “Internet technologies are rapidly altering and improving the traditional tourism industry.

“Consumers will be the greatest beneficiaries of this change.

“Although the development of the online travel industry is already advanced, the service quality, transparency of information, protection of consumer rights, and user experience within the online travel industry could be greatly improved.

“This venture will put customers first and foremost and use the strengths of both companies to provide the most efficient and enjoyable travel experience for users.”

NetEase is a leading Internet technology company in China.

Dedicated to providing online services centred around content, community, communication and commerce, NetEase develops and operates some of China’s most successful online PC and mobile games, advertising services, e-mail services and e-commerce platforms.