Wednesday, March 22, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Business

China approves $6 billion airport expansion in Xinjiang capital

Editorial Bureau by Editorial Bureau
November 19, 2018
0
China approves $6 billion airport expansion in Xinjiang capital

China Southern Airlines planes are seen at the Urumqi Diwopu International Airport, in Xinjiang Uighur Autonomous Region, China July 31, 2012. REUTERS/Stringer

74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

BEIJING (Reuters) – China’s state planner on Monday approved a 42.1 billion yuan ($6.06 billion) airport expansion project in Urumqi, capital of the far western region of Xinjiang, a key hub in China’s Belt and Road initiative.

You might also like

Markets rebound ahead of Federal reserve decision on hike interest rate

Bank shares, and oil prices sink in UBS buyout of Credit Suisse

UBS shares plunge after Credit Suisse takeover announcement

Construction will run through 2030 when the expanded airport is expected to handle 63 million passengers and 750,000 tonnes of cargo a year, the National Development and Reform Commission (NDRC) said in a statement.

The expansion includes construction of two additional runways.

The investment value is over half of what China is spending on Beijing’s new mega-airport project – Daxing International Airport – that costs 80 billion yuan and will serve 72 million passengers a year by 2025.

Oil and mineral-rich Xinjiang has seen infrastructure construction spring up across the region in recent years as it is considered by China to be a key node in President Xi Jinping’s Belt and Road initiative.

Xi’s multi-billion-dollar plan aims to bolster a sprawling network of land and sea links with Asian neighbours and beyond.

The central government is also investing heavily in the country’s sometimes restive western regions to ease poverty and better integrate them into the national economy. Xinjiang is also heavily Muslim.

Beijing has faced an outcry from activists, foreign governments and U.N. rights experts over mass detentions and strict surveillance of the mostly Muslim Uighur minority and other Muslim groups who call Xinjiang home.

Economic growth in China’s western regions slowed in the first half of the year, mostly due to a decline in fixed asset investment.

While Xinjiang is the biggest among China’s provinces and autonomous regions by area, its 1 trillion yuan ($144 billion) economy ranks among the smallest.

The Urumqi expansion is aimed at accommodating the rapid aviation growth in Xinjiang and spurring the growth of an international aviation hub in the city, the NDRC said.

China is planning hundreds of airports across the country to serve a market boosted by rising business travel and tourism fuelled by a growing middle class.

Last year, Xinjiang received more than 100 million domestic and overseas tourists, up a third on the previous year.

Many inland airports in cities such as Zhengzhou and Changsha have also expanded to serve inter-continental routes.

Urumqi already serves flights to and from Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Russia and the United Arab Emirates.

China Southern Airlines <600029.SS>, which just announced plans to leave the SkyTeam airline alliance, has a hub in Urumqi.

(Reporting by Stella Qiu and Ryan Woo; Editing by Michael Perry and Darren Schuettler)

Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

Markets rebound ahead of Federal reserve decision on hike interest rate

March 21, 2023
Markets rebound ahead of Federal reserve decision

Stock markets rose in Europe and Asia on Tuesday ahead of a Federal Reserve decision on another possible interest rate hike amid worries about global banks. Shares rose...

Read more

Bank shares, and oil prices sink in UBS buyout of Credit Suisse

March 20, 2023
UBS buyout of Credit Suisse

As UBS acquired Credit Suisse and assurances from financial officials failed to assuage investors alarmed by a new crisis, global bank shares and oil prices fell on Monday....

Read more

UBS shares plunge after Credit Suisse takeover announcement

March 20, 2023
UBS shares plunge after Credit Suisse takeover

After it was revealed that banking behemoth UBS would purchase its troubled competitor for nearly $3.25 billion in a deal arranged by regulators to prevent further market-shaking turmoil...

Read more

UK banks in safe zone after Credit Suisse rescue

March 20, 2023
Credit Suisse

The UK's central bank has said banks are "safe" after regulators approved a rescue deal for Credit Suisse. Which aimed at stopping fears over banks from spreading. After...

Read more

Sam Bankman-Fried and US prosecutors are close to a new bail deal

March 18, 2023
Sam Bankman

Sam Bankman-Fried's attorneys and U.S. prosecutors are nearing a deal on new bail terms for the founder of the indicted FTX cryptocurrency exchange, who is attempting to persuade...

Read more
No Result
View All Result
Covid - 19 Virus

COVID-19 cases in Russia increased by 9,373 – reports

March 21, 2023
Markets rebound ahead of Federal reserve decision

Markets rebound ahead of Federal reserve decision on hike interest rate

March 21, 2023
Kylian Mbappé is the new captain of the French national team

Mbappe to be named new France Captain after Hugo Lloris step down

March 21, 2023

Tags

amazon australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong ICC Men's T20 india iran israel italy japan joe biden lockdown London new zealand north korea Rishi Sunak russia south korea spain T20 T20 World Cup taiwan thailand Trump turkey UK Ukraine usa
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • edel
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • nsp
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

amazon australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong ICC Men's T20 india iran israel italy japan joe biden lockdown London new zealand north korea Rishi Sunak russia south korea spain T20 T20 World Cup taiwan thailand Trump turkey UK Ukraine usa

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?