China's civil aviation sees record-high passenger trips, fixed-asset investment in 2024

China's civil aviation sector maintained steady operations in 2024, with both air passenger traffic and fixed-asset investment reaching record highs, according to the Civil Aviation Administration of China (CAAC).

The industry's watchdog revealed that the country's civil aviation industry last year achieved a record passenger volume of 730 million and a cargo and mail volume of 8.98 million metric tons, with year-on-year increases of 17.9 percent and 22.1 percent, respectively.

During the same period, the number of international flights surged to weekly 6,400, reaching 84 percent of pre-pandemic levels, with the international cargo and mail volume jumping by 29.3 percent.

Thanks to record passenger numbers and steady growth in cargo volumes, the sector in 2024 reduced its losses by 19.24 billion yuan (around 2.62 billion U.S. dollars) from a year ago, hitting the break-even point and swinging back into the black.

From January to December, the sector's fixed-asset investment exceeded 100 billion yuan (roughly 13.64 billion U.S. dollars) for the fifth straight year, hitting a record high of 135 billion yuan (about 18.41 billion U.S. dollars), the CAAC highlighted.

In 2024, China's aviation infrastructure underwent significant expansion, with the addition of five new runways, 25 aircraft parking stands, and 19,000 square meters of terminal building area. This growth brought the total number of transport airports to 263, with a combined capacity to handle 1.5 billion passengers. Additionally, the first phase of control capacity improvement projects was fully implemented.

The year also saw steady progress on key projects outlined in the 14th Five-Year Plan (2021-2025), including the development of advanced air traffic control radar systems, weather radar networks, and expanded communication networks. Furthermore, the country's air route network was enhanced with the introduction of 45 new routes, spanning a total of 8,349 kilometers.

China's civil aviation sees record-high passenger trips, fixed-asset investment in 2024

Nanjing City in east China's Jiangsu Province has seen a surge in housing listings after easing commodity housing restrictions on Monday, as part of broader efforts to revitalize the local property market.

Under the revised rule, commodity housing units can be listed for sale immediately after the owner obtains a real estate registration certificate. As a result, homeowners have rushed to put their properties on the market.

A local real estate agency has noted a surge in property listings entering the system. Though information such as price, area, and location is available currently, photos of housing details have yet to be taken and uploaded.

"Basically, there are relatively more listings in districts like Jiangning, Qixia, and Pukou, while the number of listings in the downtown area is comparatively lower. Taxes and fees still apply; it's just that sales restrictions have been lifted," said Ye Xiaochao, a staff member from a housing agency in Nanjing City.

According to data from a local real estate agency, the city saw 3,114 new listings on Monday, compared to the usual daily average of around 850.

Industry experts believe that in the long run, lifting sales restrictions will enhance market liquidity and activity, contributing to more stable housing price expectations. At the same time, Nanjing has announced an expanded scope for housing provident funds, allowing eligible parents and children of homebuyers to apply their accounts toward financing a property purchase.

This expanded policy for withdrawing housing provident funds to cover a home's down payment now includes the buyer's parents and children, extending eligibility beyond just the homebuyer and spouse.

When purchasing a property, priority is given to withdrawing funds from the accounts of the buyer and spouse. If the combined balances in both accounts are insufficient, the buyer's parents' or children's account balances can then be utilized.

Nanjing sees spike in home listings after easing restrictions