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China to spend 200 billion yuan to stimulate aviation industry

aimarraul

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i guess we will see the 100% own make F20 and J-X very soon

As part of its battle against the global financial crisis the Chinese government plans to invest 200 billion yuan (about 29 billion U.S. dollars) on civil aviation infrastructure over two years, Li Jiaxiang, director of China's Civil Aviation Administration said on Sunday.
This is the first time that detailed figures have been put to the financial support for the civil aviation industry, part of the 4 trillion yuan economic stimulating package announced last November.
The director said 4.3 billion yuan will be refunded to airlines for fuel and taxes, and return 11.7 billion yuan levied in airport construction. fees.
In addition, more than 100 billion yuan will be spent on airport infrastructure, said Li.
SOUNDBITE: Li Jiaxiang, director of China's Civil Aviation Administration “By 2010, we will build 50 new airports, expand 12 existing ones and renovate 70 more. We will have 140 major projects which will promote the growth of China's aviation industry and stimulate the economy.”
Affected by the world economic downturn, China's air sector lost 28.2 billion yuan last year. But in the first month of this year, the industry earned a profit of 40 million yuan,
Transport figures rose by 20 percent this January comparing with the same period last year, influenced by Spring Festival travel.
The director said the increase might be considered as a sign of recovery for the economy.
Li said that China's aviation sector has grown at an annual rate of 17.2 percent over the past 30 years. 
Xinhua News Agency correspondents reporting from Beijing. (XHTV)
 
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