China opens $16B of aviation projects to private investment
On August 22, 2018, the Civil Aviation Administration of China (CAAC) published a list of 28 civil aviation projects worth $16 billion that are now open to private investments.
The list, issued both by the CAAC and the National Development and Reform Commission, concerns investment in fixed capital, research and development of new technologies and reform of mixed ownership of enterprises and aims at “compensating for shortcomings, promoting reform, restructuring and fully stimulating market vitality”, according to the official statement.
It includes projects for airports, air freight, aircraft maintenance, air rescue, logistic delivery using UAV and navigation technology. 11 of them are already identified private investor projects such as New Hohhot Airport which should be completed by the end of 2018, while 17 are new investment projects such as two UAV deliveries plans in Jiangxi and Shaanxi provinces and the funding of research on air traffic control technologies — a major challenge China is facing due to its booming traffic.
According to the list, China National Aviation Holding, the state-owned shareholder controlling Air China, is looking for investors to create a joint venture for air cargo, in order to diversify its activities. The private investment needed would be of about $1.5 billion.
A second batch of civil aviation projects should be selected by Chinese authorities to attract even more private investors.
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