China to invest $11.9 billion in aviation infrastructure in 2016 - Xinhua

Image
Reuters SHANGHAI
Last Updated : May 05 2016 | 5:48 AM IST

SHANGHAI (Reuters) - China will invest 77 billion yuan ($11.9 billion) this year in building aviation infrastructure, the official Xinhua news agency reported late on Wednesday, citing the country's civil aviation regulator.

The Civil Aviation Administration of China (CAAC) said the investment, which will focus on airports, will initially lead to 11 key construction projects and 52 aviation-related upgrades to existing facilities, Xinhua reported.

"The general aviation sector, especially aircraft research and manufacturing, has became a hot spot of both industrial upgrading and social concern," Feng Zhenglin, head of the CAAC, told the official news agency.

China's cabinet separately said late on Wednesday it would support the development of the country's aviation industry, including opening up low-altitude air space, an issue that currently constrains a fledgling market for helicopters and small aircraft.

(Reporting by Adam Jourdan; Editing by Richard Pullin)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 05 2016 | 5:42 AM IST

Next Story