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April 12 - Revenue from China's tourism sector grew 20% year on year to ¥714.6 billion in Q1 2012, and is expected to crack the ¥1 trillion mark during the six-month period through June 2012, according to the China Tourism Academy. The industry received 900 million tourists in the past three months, up 12.7% from the same period of 2011.
March 26 - China will need 1,000 executive aircraft to meet demand for high-end air travel in the next decade, Kong Linshan, chairman of Minsheng Financial Leasing Co, said at the establishment of China Executive Aircraft Shanghai Alliance.
March 23 - Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) said it plans to open six Westin hotels in China this year and another four next year to bring the total number to 24 in the country by the end of 2013.
March 21 - China's airlines reported a combined ¥540 million loss in February as fuel costs surged while demand for air travel abated after the high season around the Chinese New Year, the China Civil Aviation Administration said. Air passenger traffic totaled 23.49 million people and cargo traffic totaled 377,717 tons last month, up 8.6% and 25.6% respectively from the same month a year ago.
March 6 - China plans to build 17 airports and revamp 36 this year but this is far from enough for the nation to have a reasonable number of airports, said Li Jiaxiang, director of the civil aviation regulator, signaling larger expansion plans in the years to come.
$1 = ¥6.3
@2011 China Economy @ The China Perspective.
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