|Charissa Echavez |||Oct 31, 2016 06:18 AM EDT|
(Photo : Getty Images) Aircraft are seen at the Beijing Capital International Airport on November 23, 2015 in Beijing, China.
China's civilian airport market has now been made fully accessible to private capital after the national aviation authority issued on Sunday sweeping rights-granting guidelines, official media reported.
The Civil Aviation Administration of China now welcomes private capital for all civilian airport projects planned in China's outline for airport development or special regional and industrial planning.
Like Us on Facebook
According to the guideline, private capital for civilian airports construction and operation under public-private partnerships are encouraged to enhance "service quality and efficiency." Financing firms and their affiliated facilities are allowed to participate via franchising, transfer of operation or stock right and entrusted operation, China Daily US reported.
Investment firms are no longer required to obtain the agency's approval to finance terminals, logistics and warehousing, ground services, and other operations on civilian airports, according to China People's Daily.
Moreover, qualified private and overseas capitals are now allowed to give intermediary services including counseling, designing, and maintenance to civilian airports, India Today noted.
Other than civilian airports, China has also rolled out its carpet for the market of general aviation airport construction, springboard to an industry with its projected market value to hit as high as 150 billion yuan ($22 billion) by the end of the decade.
Investment sources for general airports including inter-investment between general airports and other market entities, are not limited.
Chinese airlines will spend more than $1 trillion on new aircrafts over the next two decades to meet the increasing demand for air travel, making China "the first trillion dollar aviation market," according to aircraft manufacturer Boeing during its annual China Current Market Outlook last month.
Demand of China's commercial plane will hit 6,810 over the next 20 years, up 7.6 percent from its previous forecast. The aircrafts are valued at $1.025 trillion.
©2015 Chinatopix All rights reserved. Do not reproduce without permission
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
China Pork Prices Expected to Stabilize As The Supplies Recover
Elephone P9000 Smartphone is now on Sale on Amazon India
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?