Abstract: The Civil Aviation Administration of China (CAAC) identifies a need to invest 73 billion yuan (US$8.8 billion) in upgrading and expanding its airport network during the current Five-Year Plan (1996-2000), three times the amount spent during the 1991-1995 Plan. CAAC will provide around 25 billion yuan (US$3 billion), largely generated by a passenger tax of 50 yuan (US$6) for domestic, and 90 yuan (US$10.8) for international flights. The remainder is to come from local and regional governments, and for the first time participation from foreign investors is being encouraged. The accelerated investment program is in response to a surge in air travel that has accompanied extraordinary economic growth since Deng Xiaoping came to power in 1979.
Publication Year: 1997
Publication Date: 1997-01-01
Language: en
Type: article
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