China - Land of Opportunity

Abstract

More money will be spent on airports in China in the next five years as was spent in the previous 15, according to this article which looks at airport development in China. Forty-two airports will be built and existing infrastructure will be upgraded with the $17.4 billion budget set aside for this purpose. The author suggests that the rapid expansion is due to the central government's interest in these projects. In addition, China will further open up air travel and air cargo markets. In 2004, the U.S. and China agreed to allow U.S. air transport companies establish cargo transport hubs in China. Currently, Beijing Capital Airport and Shanghai-Pudong are operating at near capacity for take-offs and landings. The situation is troublesome given the Olympic Games planned for Beijing in 2008.