Source: China Daily

11-24-2008 11:05

No airline can afford to miss the China ride.

China's fast-growing economy is making the country a shining star in the global aviation market. Since the country adopted the reforms and opening up policies in 1978, its air traffic has been increasing at double-digit rate each year to keep pace with the explosive growth in passenger and cargo throughput.

China's air traffic has maintained an average annual growth rate of 18 percent since 1980, almost double the country's GDP growth rate and three times the world's average air traffic growth rate during the same period, according to figures from the Civil Aviation Administration of China (CAAC), the industry watchdog.

The Chinese airline industry transported 185 million passengers last year, up 15.9 percent year-on-year, compared with just 3.43 million passengers in 1980.

As the world's top foreign direct investment destination, China has become the focus of manufacturers, retailers and bankers. More foreign investment means more travelers coming to China. The nature of the airline business is to follow that trend and provide people with access to regions where their businesses are growing.