A batch of aviation deals worth 14.5 billion yuan ($2.2 billion) has been signed during the first World Fly-in Expo held in Hannan General Aviation Airport in Wuhan, China's Hubei province, on Nov 4.
The expo has seen 19 deals signed during the opening day of the event, in areas as varied as general aviation manufacturing, assembly, maintenance, professional training, operation services and satellite technology applications.
The deals are expected to provide opportunities for enterprises in the Wuhan Economic and Technological Development Zone (Hannan) to develop into an aviation industrial chain and become a general aviation industrial park featuring flight production, flying and repair, as well as staff training in the future.
A national-level aviation industry demonstration area will be built with a total investment of 28.3 billion yuan, including a complex that can provide aviation production, services and entertainment facilities. The project is estimated to generate 36 billion yuan a year.
Wuhan Economic and Technological Development Zone (Hannan) was granted as a general aviation and satellite industrial park in 2015. By 2025, it aims to foster a new industrial chain worth a hundred billion yuan, become the permanent host of WFE, a national leading aviation industry zone and the center of China's aviation sporting industry.
The project is managed by the administration committee of Wuhan Economic and Technological Development Zone (Hannan) and China VAST Industrial Urban Development Company Limited by the public-private partnership mode.
The zone has already become a hub for aviation industry in Wuhan. It has introduced helicopter production projects from Russia. The zone also held the first aviation technology cultural festival in August.
Leaders from China's General Administration of Sport and aviation enterprises sign cooperation agreements at the World Fly-in Expo held in Wuhan, China's Hubei province, on Nov 4. [Photo by Li Chenxi/chinadaily.com.cn]
Aviation companies sign business deals at the World Fly-in Expo in Wuhan. [Photo by Li Chenxi/chinadaily.com.cn]
