China props up to become World’s largest aviation market in coming decades
With the increase in wealthy middle class, China has evolved rapidly since last decades. This exponential growth in economy led the development of different infrastructures including aviation sectors as well. Due to such global influence, the passenger’s traffic has also been rising significantly at about 39 percent each year.
So, the Civil Aviation Administration of China has outlined the plan to invest 500 billion yuan in country’s big and small aviation projects to meet the growing demand. According to Li Jiaxiang, Administrator of the Civil Aviation, they will invest in 193 big and small aviation projects. In the next five years the numbers of airports will increase from 200 to 240.
Full details of the projects are still unclear but according to Li, around 200 billion Yuan will be spent on their primary initiative to upgrade and construct 51 new airports in major cities like Beijing, Kunming and Urumqi.