General aviation to become next driver of Chinese economy

The general aviation aircraft industry is becoming the next driver of the Chinese economy, according to officials and experts, China Daily reported. "China's economy has had different engines boosting its development in different periods. At first, it was home appliances, then it was cars, but now the general aviation industry's time is coming," the newspaper reported Jin Qiansheng, an official with the Yanliang National Aviation High-tech Industrial Base in Xi'an, capital city of northwest Shaanxi province, as saying. Jin made the remarks at the International General Aviation Convention in Xi'an that ended earlier this week. A total of 35 investment contracts totaling 9.6 billion yuan ($1.5 billion) were clinched during the five-day convention. China's civil aviation authorities have estimated that by 2020 the country will need more than 9,000 aircraft in the general aviation field. Related industries, led by the booming general aviation industry, will add a huge market valued about 60 billion yuan, the newspaper said.