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Contracts Valued US$4.5 Billion Inked at Air Show

Contracts valued at some US$4.5 billion have been inked in the first four days of the Fifth China International Aviation and Aerospace Exhibition, the exhibition's organizing committee said.

During the first four days, noted the committee, participants from 32 countries and regions have signed contracts, agreements and letters of intent totaled approximately US$4.5 billion.

China is in need of 2,194 airplanes for the next two decades from 2004 to 2023 to cope with the growing demand of its aviation market, China Aviation Industry Corporation I (AVIC I) predicted in its latest report.

The report acknowledges that the rapidly-growing tourism, fast expanding foreign trade, and ongoing, in-depth reform in the aviation industry will calls for a continuously flourishing market for China's air transportation.

More than 80,000 professionals from various aircraft companies, aeronautic universities, the air force units of the People's Liberation Army (PLA) and media organizations at home and overseas have visited the exhibition in the first four days and in the ensuing three days, and the exhibition will be opened to the public, the committee said.

Five air force teams from Britain, France, Russia and China will give stunt demonstration flights for the viewers in the three days, the committee added.

The November 1 to 7 show has occupied a combined floor space of 16,700 square meters for indoor exhibition, which is about 15 percent more than the previous one.

The China International Aviation and Aerospace Exhibition is a biennial event. The first was held in 1996, also in Zhuhai, one of China's five special economic zones.

(Xinhua News Agency November 6, 2004)

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