Airport News

China has given the green light to over CNY120 billion yuan (USD$19.34 billion) worth of airport and rail projects, the latest slew of infrastructure approvals as Beijing looks to avert a sharp slowdown in the economy.

China's National Development and Reform Commission said on its website it had approved seven projects, including the CNY14.5 billion yuan expansion of an airport on the island of Hainan and a CNY691 million airport in the northeastern province of Heilongjiang.

China's economy grew at its weakest pace in six years in the first quarter, expanding 7 percent, weighed down by a cooling housing market, slowing local investment and weak domestic and foreign demand.

Economists at China's central bank on Tuesday shaved their forecast for China's economic growth to 7.0 percent for 2015, from 7.1 percent previously.