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China To Invest $17 Billion In Aviation Sector
Beijing (AFP) Jul 15, 2006 China plans to spend 17.4 billion dollars on its aviation sector in the next five years, buying 430 new airplanes and building 42 new airports, a government commission said Friday. The growth means mainland China's air transport sector will be the second biggest in the world after the United States, the State-owned Assets Supervision and Administration Commission said in a statement. Countries are ranked based on the number of passengers and tons of cargo flown annually. China currently is the third biggest air market. The demand for air travel is driven by China's rapid economic growth, its people's increasing affluence, and a greater desire to travel domestically and overseas, as well as booming exports and imports. European airplane manufacturer Airbus has forecast China's air travel sector will grow by 8 percent a year for the next two decades while Boeing forecast a 7.3 percent annual growth rate. Boeing predicted China would need 2,600 new planes over the 20-year period, while Airbus sees the market at about 1,800 new aircraft, not counting regional smaller aircraft.
Source: Agence France-Presse Community Email This Article Comment On This Article Related Links The Business of Aerospace and More at SpaceMart.com The Chinese Space Program - News, Policy and Technology China News from SinoDaily.com
Lunar Touchdown For China
Melbourne, Australia (SPX) Jul 12, 2006Recently, the media has experienced another cascade of reports on the possibility of a Chinese manned lunar program. Translations of an article from a Hong Kong newspaper have hit the wires, and even found their way back into English-language versions of mainland Chinese publications. |
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