Access to a private aircraft is no longer the sole domain of the wealthy. As China develops its aviation infrastructure, a small coterie of flying enthusiasts are helping to spread the pilot culture nationwide.
It's easy for newcomers to lose their bearings in the fields around Douzhuang Airfield, but the sight and sounds of small aircraft circling in the white smoggy sky always provide a guide to point them in the right direction.
Wang Xia, secretary-general of the China General Aviation Committee, has been studying general aviation in the country since 2001. When discussing the challenges facing the development of private aircraft, she compares the current situation to a highway.
Airbus SAS, the French airplane manufacturer, has sold 25 of its 170 business jets in Asia, with 20 going to clients in China. According to a joint study conducted in April by Airbus and the UK-based Ledbury Research, China is expected to be home to about 1,040 dollar billionaires by 2020, a huge increase from the 470 recorded in 2012, which will put China on a par with the US.
Global gold demand declined sharply in the second quarter of the year as Chinese and Indian buyers purchased less jewelry than a year ago, the World Gold Council said on Thursday.
China is strengthening its policy on yuan internationalization by promoting wider use of the currency around the world.
More mainland investors are finding their way to wine country in California's Napa Valley, as the Chinese are buying not only bottles of wine but vineyards as well.
Lenovo Group Ltd plans to sell 150 million devices in the fiscal year that kicked off in April, Chairman and Chief Executive Officer Yang Yuanqing said on Thursday.
China on Thursday announced the expansion of a program for exporters to get a tax refund at departure ports, which should shorten their tax refund period, researchers said.
When heavy smog in Shanghai last November caused his 2-year-old daughter to develop a bad cough, Kim Poulsen, executive vice-president of UPM Paper Asia, temporarily sent his family back to Finland.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
