Home / Business Info / China buying Boeing planes worth US$1tril over next 20 years

China buying Boeing planes worth US$1tril over next 20 years

Tuesday, 13 September 2016


BEIJING: Chinese Airlines are likely to purchase 6,810 planes worth US$1.025 trillion in the next 20 years as they expand fleets to cater to robust growth in domestic and overseas tourism, Boeing Co forecast on Tuesday.

The latest estimate of 6,810 planes is 7.6% higher than the 6,330 aircraft predicted last year. Boeing has stayed bullish on China even as other US companies have expressed concern over the country’s slower economic growth. 

A senior Boeing executive said in August that the plane maker was not seeing any softness in demand in China.

Source by: Internet

Check Also

China defends tech crackdown in meeting with Wall Street chiefs

BEIJING: China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules aren’t aimed at stifling technology companies or the private sector.

China Securities Regulatory Commission Vice Chairman Fang Xinghai said recent actions were to strengthen regulations for companies with consumer-facing platforms, and improve data privacy and national security, according to a person familiar with the talks, who asked to not be identified because the meeting was private. Fang defended the moves such as those aimed at the education and gaming industries as meant to reduce social anxiety.

Global investors have been unnerved by the regulatory onslaught from Beijing

Evergrande says six execs redeemed investment products in advance

BEIJING: Six executives of China's heavily indebted Evergrande had redeemed some of the company's investment products in advance earlier this year, the property group said on Saturday.

Between May 1 and Sept. 7, the six executives made early redemptions of 12 investment products, Evergrande said in a statement on its website, without identifying the executives or giving details on the nature of the products.

"Regarding the early redemption of Evergrande wealth investment products by some managers, the group company views the matter seriously," the company said.

Evergrande said it had requested that all the funds redeemed by the six managers in advance be returned within a certain time frame.

Severe penalties would also be imposed, it said.

Leave a Reply