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China's WTO accession will further fuel the growth of its air cargo market and there are huge opportunities, according to experts of logistic services.
At an open forum entitled "WTO Implications on Air Cargo Logistics in China" held Friday in Hong Kong, representatives from the air cargo industry from Hong Kong, Shanghai and Guangzhou talked about the recent changes and development in China's air cargo logistics industry post-WTO.
Professor Japhet S. Law of the Chinese University of Hong Kong (CUHK) said China's accession to WTO mandates the phased liberalization of trading and distribution rights for foreign companies and relaxation of foreign investment restrictions.
This creates significant opportunities for foreign participation in its aviation industry including road transport storage and warehousing, freight forwarding, technical testing and freight inspection.
The World Bank predicts that by 2020, China will become the world second largest trading entity, overtaking Germany and Japan, said Professor Wai Man Cheung, head of the Center of Cyber Logistics of the CUHK.
"Based on the Boeing's long-term forecast, by 2019, the Asian market will account for some 52 percent of the world's air freight, compared to 41 percent in 1999. Much of this growth will be attributed to China," he said, adding that great opportunities will be in sight in China's air cargo logistics.
Meilin Wang, managing director of Danzas AEI China, agreed that China's aviation industry holds immense potential.
China is likely to have an aircraft fleet of more than 1,700 by 2012, more than double the current number of 550 aircrafts, he said.
He further predicted that Shanghai would become the leading hub in the Chinese mainland with double digit growth in the next decade and the Northeast Asia transit hub to cover Korea, Japan, Taiwan province and Hong Kong SAR.
(Xinhua News Agency December 7, 2002)
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