CAAC: China's aviation industry more open

CAAC: China's aviation industry more open

China's aviation industry became more open through the use of 80 million US dollars worth of foreign capital last year, according to sources at the General Administration of Civil Aviation of China (CAAC).

China implemented new rules on foreign investment in the civil aviation industry last year, including investment areas and shares,said Yang Yuanyuan, director of CAAC.

China approved eight projects for foreign investment and four projects for domestic investment overseas, he said in Beijing on Jan.23 during an annual meeting.

China's ties with other countries in the civil aviation industry continued to grow steadily. It formally signed aviation agreements with Tunis and Luxembourg. So far, China has signed 89 such agreements with other countries.

Airline companies made progress in restructuring, Yang said, with Shanghai Airlines issuing A shares and Meilan Airport in Hainan Province issuing H shares overseas.