BUSINESS China encourages private investment in 16 bln-USD civil aviation projects

BUSINESS

China encourages private investment in 16 bln-USD civil aviation projects

Xinhua

12:28, August 24, 2018

BEIJING, Aug. 23 (Xinhua) -- China Thursday published a list of civil aviation projects, with the combined investment estimated at 110 billion yuan (about 16 billion U.S. dollars), to encourage private investors to participate.

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Photo: Xinhua

The 28 projects cover both traditional areas such as airport construction, cargo logistics, plane maintenance, and air rescue, and emerging areas including drone delivery and airborne data communications, according to the list, released by the Civil Aviation Administration of China (CAAC) and the National Development and Reform Commission.

The move will "optimize the investment structure of the civil aviation sector" and "advance the supply-side structural reform and high-quality development of the sector," the CAAC said in a statement.

For traditional areas, the measure will revitalize the market and improve corporate management. For emerging areas, it will accelerate research and development, standard formation and market expansion, according to the statement.

The private investors for 11 of the projects have already been determined, while the remaining 17 projects are still open for participation, the CAAC said.

A second list of civil aviation projects to encourage private investment will be released "at an appropriate time," in light of the progress of the first group of projects, according to the CAAC.

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