CHINA will invest more than 1.5 trillion yuan (US$237 billion) in the civil aviation sector in the next five years and buy more than 2,500 aircraft during the period, the head of the country's civil aviation industry regulator said at an industry forum yesterday.

The total number of civil aircraft in the country will exceed 4,500 by 2015, Li Jiaxiang, head of the Civil Aviation Administration of China, said at the China Civil Aviation Development Forum in Beijing. At the end of last year, China boasted a fleet of around 2,600 aircraft.

The State Council will soon release a guideline that will help boost the civil aviation industry as well as enhance the management of small and medium airports in the country, China Securities Journal reported yesterday, quoting Li.

The draft will urge local governments to boost direct investment to fund and build regional airports.

Source:shanghaidaily