China Allows Foreign Investment in Airlines: The country has opened its airlines and airports to foreign investment in a bid to upgrade its badly strained air transport infrastructure, the China Daily reported today. Foreign carriers will now be allowed to invest in Chinese airlines or launch joint and cooperative projects, such as the setting up of new airlines, the newspaper said. However, under Civil Aviation Administration of China rules, foreign investment in a joint-venture airline will be limited to 35%, and foreign voting rights will be capped at 25%. This year, China vowed to overhaul its air transport industry, which has groaned under the weight of double-digit growth in demand.
From Times Staff and Wire Reports
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