Seven years ago, around 70% of passengers in US-China air trips were American. But today, more than 50% of travelers are Chinese. Flying used to be a luxury mode for travel in China, but now is for the masses. Data shows that by 2029 China will overtake the US as the world’s largest passenger market. The increasing passenger demand has not only brought Chinese airlines big successes in the past decade but also some real challenges like lengthy delays and poor service. In fact, Chinese airlines are struggling to keep up with growth in demand, and compared to foreign counterparts, they are not as global nor as profitable as they should be.
The China statistics you need to know: from data on growth in R&D spending to flagging automobile sales and China’s precious metal exports.
Patrick Horgan, Regional Director, North-East Asia, on how Rolls-Royce diversified in China. Unknown to many, China’s engagement with Rolls-Royce, the iconic British multinational company, goes back nearly a century. In 1919 the first airmail service between Beijing and Tianjin was powered by Rolls-Royce engines on a Handley Page aircraft. In 1963, Rolls-Royce sold Dart engines […]
The week that was: The Chinese government chooses not to bail out the beleaguered Chaori; RMB depreciation goes on even as the trading band is widened; Zhejiang Xingrun Real Estate heads for bankruptcy; and Twitter CEO Dick Costello visits Shanghai. China’s debt problems are not disastrous yet? Shanghai-based solar cell manufacturer Chaori Solar Energy and […]
Can private airlines get off the ground in China? Jill Mao, a 22-year-old student, was due to fly at 4pm from Shanghai Pudong airport to Hong Kong in June. But when she got to the airport, she found out that the flight would be two hours late due to bad weather, even while skies looked […]