China Eastern spreads its wings in Lin-gang
The Lin-gang Special Area holds a signing ceremony with China Eastern Airlines on June 29. [Photo/WeChat ID: shlgguanweihui]
Executives from Shanghai-headquartered China Eastern Airlines Ltd and the Lin-gang Special Area – located in East China's Shanghai city – signed a strategic cooperation agreement and memorandum of understanding, or MOU, on June 29, to develop a new global civil aviation industry hub in the area.
Under the agreement, the two will jointly develop seven major projects – an Asia Pacific one-stop aviation logistics hub, an international aviation maintenance service platform, aviation financial services, an Asia Pacific aviation materials trade and distribution center, aviation ground equipment system services, joint-venture aero engine production and the construction of an eco-friendly digital city.
The projects will involve an investment of over 22 billion yuan ($ 3.3 billion).
In addition, the two inked a memorandum of understanding to enhance their communications. They will work together to develop the southern part of Shanghai Pudong International Airport as an international aviation service mecca and an international air cargo hub.
Representatives of the Lin-gang Special Area and China Eastern Airlines sign a strategic cooperation agreement and MOU on June 29. [Photo/WeChat ID: shlgguanweihui]
The scale of the civil aviation industry in the Lin-gang Special Area is predicted to reach 50 billion yuan ($7.75 billion) during the 14th Five-Year Plan period (2021-25), according to the area's civil aviation industry, which announced special plans on Sept 1 last year.
Under the regional plan, Lin-gang will continuously improve and expand its level of aviation manufacturing, aviation services, aviation logistics and other industries, as well as move to attract and help develop a group of influential enterprises.
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