BEIJING/SHANGHAI: China will invest 500 billion yuan ($80 billion) in 193 major domestic aviation projects this year, the country’s aviation regulator said, to meet growing demand from travelers and to bolster growth as the world’s second-largest economy slows.
The plan was outlined in prepared remarks to be delivered later on Wednesday by Li Jiaxiang, head of the Civil Aviation Administration of China, at an aviation forum in Beijing. The remarks did not specify details about the projects.
The announcement comes amid a wider effort by Beijing to increase overall infrastructure spending after economic growth slowed to a six-year low in the first quarter. The country’s state planner has so far in the first six months approved billions of dollars of railway and airport projects.
China’s aviation sector has grown rapidly in recent years, driven by demand from the country’s increasingly wealthy middle class. Outbound passenger volumes rose 39 percent year-on-year over the January-May period, Li said.
外文标题：China to invest $80 billion in 193 aviation projects this year
J.K.Ahuja Ahuja (Jabalpur, Madhya Pradesh)
I am reading the comments of many self-styled erudite persons,who pose to be having a good grasp of economics,however by their half-baked comments they only expose their ignorance. The Shanghai Stock Exchange the world’s 3rd largest, in the last 15 days has seen many ups & downs,crossing the 5000 mark its highest since2008, & then falling to 4476 in the next few days. A few persons on this coloumn have commented that China is on the verge of collapse. As I frequently travel to China for business, I would like to inform that Chinese firms have floated IPOs on the Shanghai,Hong Kong stock exchange worth nearly $100 billion, thus the people are selling their stocks & purchasing shares of these IPO Cos, which has resulted in the fall of the index. A $10.4 trillion economy,with a foreign exchange stock of $4.1 trillion is not going to collapse as the western media are hoping & our media ia aping.
Ayush Jha (Unknown)
china first invested in it’s own railways and now aviation. They are trying everything to achieve their growth targets but investors are slowly but steadily turning away.
Are Indian companies plnning to start operations in China anytime soon? Finally some Indian aviation companies seem to have figured a way to run an airline profitably
Rajiv Agrawal (LONDON)
WHAT IS CHINA DOING IN A SINGLE SECTOR N WE R BANKRUPT FOR MONEY AFTER CONGRESS RULE FOR DECADES…THIS IS CONGRESS GIFT TO INDIA
Ravi Sunder (Mumbai, Maharashtra)
What so big deal..?
ransagi Baxi (India)
China is creating a bubble. Are they really collecting so much money from Tax that they are spending. It looks like their spending is not matching their income numbers. It is very dangerous situation for the entire world
Sivadasan K (Unknown)
China is always China
Born to be an Indian (India)
Wow! Looking at China’s population this should really be needed. Any news if this is open for FDI? If it is, Indian companies should apply and make use of this opportunity.