China invests $17 bn in new airports

China will invest a total of 140 billion yuan (US$17.4 billion) in the construction, expansion and transformation of domestic airports in the coming five years.The announcement was made by Gao Hongfeng, deputy director-general of the Civil Aviation Administration of China (CAAC).

The money is expected to be used in the expansion of three major hub airports in Beijing, Shanghai and Guangzhou, and also in the expansion and transformation of 24 midsize hub airports in such cities as Chengdu, Haikou and Xian, and in building of 42 new airports under CAAC plan.