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People's Daily Online>>China Business

Global business jet manufacturers eye Chinese market

By Shen Wenmin (People's Daily)

15:09, March 30, 2012

Edited and translated by People's Daily Online

The 2012 Asian Business Aviation Conference and Exhibition (ABACE), the largest business aircraft show in Asia, recently kicked off at the Shanghai Hongqiao International Airport. The ABACE shows 30 new business jets from several industry giants such as Airbus Corporate Jets, Boeing Business Jets, and Bombardier Aerospace, pushing China onto the center stage of the global business aviation industry.

China, one of the fastest-growing markets for business aircraft

China's business aviation market has enjoyed explosive growth since 2008, making the country one of the fastest-growing markets for business aircraft. It is estimated that business aircraft in the country will total 1,000 units over the next 10 years. That is why business jet manufacturers worldwide have decided to focus on the Chinese market over the next five to 10 years.

Chinese business aviation market lags far behind global average

The China Business Aircraft Shanghai Alliance, comprising major domestic and foreign business aircraft manufacturers and operators, was founded on March 26 to build a complete service system for China’s rapidly growing business aviation market.

Kong Linshan, the alliance's initiator and chairman of Minsheng Financial Leasing, said that business aviation in China is still in its infancy, and there are many problems affecting the industry's development, including domestic consumers' immature attitudes toward consumption, backward infrastructure for business aviation, lack of industry professionals such as business jet pilots, strict regulations on airspace, particularly on high-altitude airspace, high tariffs, poor maintenance, and lack of business aircraft parts. These problems have hindered the development of China's business aviation industry to different degrees, causing the Chinese business aviation market to lag far behind the global average.

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