The Civil Aviation Administration of China plans to finance the construction of aviation infrastructure this year, Reuters reported on Thursday, citing the national Xinhua news agency. According to the media, Beijing will allot 77 bln yuan, that is $11.9 bln, for that purpose.
The investment plan will include 11 construction projects and 52 reconstruction projects of existing aviation-related facilities. However, the key objects are airports.
On the 4th of May, the Chinese government said that it would bolster the development of the country's aviation industry. Moreover, the official emphasized that there is a need to support opening up low-altitude air space, what will contribute to the tourist industry and pilot training sectors, as well as boost demand for light aircraft.