Chinese Aviation Opens Wider to Foreign Investors

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Last updated at: (Beijing Time) Thursday, July 04, 2002

Chinese Aviation Opens Wider to Foreign Investors

Foreign investment in China's aviation industry will be expanded, according to a new regulation to go into effect on August 1.

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Foreign investment in China's aviation industry will be expanded, according to a new regulation to go into effect on August 1.

Foreign investment will cover any public aviation transport companies in China, and foreigners can invest in any areas except those listed as state confidential projects, according to the regulation.

The regulation was initiated by the General Administration of Civil Aviation of China, Ministry of Foreign Trade and Economic Cooperation and State Development Planning Commission.

In addition to the current investment modes of joint venture and cooperation, foreign business people can buy shares of Chinese aviation companies.

The regulation also raises the proportion of foreign investment allowed in Sino-foreign joint-stock ventures.

China: world's fastest-growing aviation market

China's aviation market will grow rapidly in the next 20 years, President of Airbus China Guy McLeod predicted Wednesday after Airbus delivered its first A321 to China Northern Airlines.

China will need 1,600 civil aircraft in the next 20 years, according to official estimates. Airbus hopes to claim half the market, Mcleod said.

Airbus owns two comprehensive subsidiary companies, one of which is in China. Airbus also invested US$80 million to build a customer support and training center in Beijing.

He said that China is the world's fastest-growing aviation market, and Airbus is the fastest-growing aircraft manufacturer.

Airbus will gradually strengthen coordination with Chinese manufacturers to make wing parts, he said.

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