CAAC issues guide on airport fund

The Civil Aviation Administration of China issued guidelines on the civil aviation special fund that will be used in investing in, and subsidizing, airport construction projects. The fund will be allocated to undeveloped areas and small and medium airports. The fund will mostly benefit areas in the Class 4 regions consisting of Tibet, Xinjiang, Inner Mongolia, Ningxia, Qinghai and Gansu. The fund will be divided into two parts: the new airport fund and airport development fund for management. The first will be used for the construction of new airports and the second for the expansion and retrofitting of existing airports.