China plans to invest more than US$228.2 billion (US$1 = RM3.05) ) in the aviation industry over the next five years to meet surging demand as its economy booms, the sector's top regulator said.
By 2015, the country is expected to have more than 220 commercial airports and its fleet size will expand to more than 4,500 planes, Li Jiaxiang, head of the Civil Aviation Administration of China (CAAC) outlined.
"The ability of the civil aviation sector to serve the national economy and the public would be further strengthened by that time”, Li added.
China has 175 commercial airports in operation and keeps more than 2,600 aircraft in its fleet. At present it has 43 airlines, including eight privately owned carriers. The government encourages private investment in the civil aviation sector and three new private airlines will submit business applications to the regulator, Li added.
The Islamic Chamber of Commerce and Industry (ICCI) is an affiliated organ to the Organization of the Islamic Conference (OIC) and the only representative of the private sector in the Islamic World. It held 11 meetings since 1994 in 11 Islamic States for the sake of enhancing trade exchange volume, fostering the volume of joint investment projects amongst the States of the OIC, strengthening closer collaboration between public and private sectors in the Islamic countries, developing necessary mechanisms for more cooperation through networking, organizing and establishing projects amongst the OIC States.