Economics
China’s NDRC Approves New $12.9 Billion Beijing Airport
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China’s top economic planning agency approved plans for a second international airport in Beijing at a cost of 80 billion yuan ($12.9 billion), aiming to ease congestion at the capital city’s main hub.
A civil aviation development fund will provide 18 billion yuan, while state-owned Capital Airports Holding Co. will contribute 6 billion yuan and private funding will be “aggressively” pursued, the National Development and Reform Commission said in a statement Monday.