Beijing: China looks to build around 500 airports by 2020 to create a market worth over $153 billion for its general aviation industry. In a guideline issued by China’s Central Cabinet, there will be more than 500 airports, covering major agricultural and forest regions and over 50% of five scenic tourist spots. China will increase the number of aircrafts, helicopters and private jets to 5000 by 2020. China saw a rapid development in its general aviation industry.
The action plan includes 303 projects covering railways, highways, waterways, airports and urban rail transit with 131 projects to be taken this year, 92 projects in 2017 and 80 projects in 2018.
As per the latest data released at the end of 2015, China had more than 300 airports, 281 enterprises and 1,874 aircraft. Total annual flying time reached 732,000 hours last year. On May 12, China had announced plans to invest $723.8 billion in the next three years to improve the country’s well laid out infrastructure which includes development of airports to boost investment-led growth to halt the economic slowdown.