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The prospect of greater foreign investment in China's aviation industry from August 1 has been welcomed by representatives at a national aviation industry meeting being held in Beijing.
Foreign investment would bring advanced management skills, technology and personnel, which would sharpen the competitive edgeof the Chinese aviation industry, said Li Jiaxiang, a senior executive with Air China.
Air China is planning to set up China's biggest freight aviation company with Hong Kong's Citic Taifu and Beijing Capital Airport Group. The registered capital for the joint venture company will be 2.2 billion yuan (270 million US dollars) with AirChina as the biggest shareholder.
More foreign investment would help optimize capital and benefitthe industry, said Yan Zhiqing, president of China Southern Airlines.
Executive president of Hainan Airlines, Li Weijian, echoed his views, saying the new regulations effective on August 1 would helpset up a modern aviation enterprise system.
Foreign investment accounted for a 35 percent share of Hainan Airlines, the first joint venture aviation company, and Li said the airline would seize the chance to utilize more international capital.
(Xinhua News Agency July 27, 2002)
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