The Xinhua news agency reported Wednesday that China is preparing to invest 77 billion yuan ($11.9 billion) in civil aviation infrastructure in 2016, according to the Civil Aviation Administration of China (CAAC).
China to Invest $11.9 Billion in Aviation in 2016
Key Takeaways:
- China plans to invest $11.9 billion in civil aviation infrastructure in 2016, including 11 new construction projects and 52 upgrades.
- The investment is primarily focused on boosting the general aviation sector, particularly in aircraft research and manufacturing.
- The Chinese cabinet will also support the aviation industry by opening up more low-altitude airspace, further facilitating general aviation growth.
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