China to invest USD230bn in civil aviation in 12th Five-Year Plan

CAAC stated China plans to invest more than CNY1.5 trillion (USD230 billion) in civil aviation during the 12th Five-Year Plan (China Knowledge, 20-Apr-2011). According to CAAC estimates, China's passenger traffic will reach 450 million, the number of airports will exceed 230 and fleet size, including general aviation aircraft, will surpass 4500. CAAC Administrator Li Jiaxiang said that CAAC will further restructure the civil aviation industry in China, focussing on micro-monitoring system and market-oriented policy making, during the Five Year Plan.