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 77 billion yuan ($11.9 billion) in civil aviation infrastructure in 2016.
- This investment includes 11 new projects and 52 upgrades, specifically targeting the general aviation sector, including aircraft research and manufacturing.
- China's cabinet will also open up more low-altitude airspace to further support and facilitate the growth of the country’s general aviation industry.
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