The fund is expected to finance. among others, new airports, aviation economic zones, budget carriers, cargo and general aviation related projects. The fund is led by Beijing International Airport Co Ltd and 20% controlled by Capital Airports Holding Co. (HNA Group).
In November 2012 as a result of the rapidly expanding civil aviation there were 182 commercial airports in China. Under the 2011-2015 national plan (12th Five Year Plan) China aimed to build 56 new airports, re-locate 16 airports, and renovate/expand 91 airports during the 2011 - 2015 period. According to this plan China will have a total of 220 airports, including 3 national hubs, 5 regional hubs, and 24 medium hubs.
The 12th Five Year Plan major airport projects includes:
China's passenger airline industry is dominated by the three state-owned airlines; Air China, China Southern Airlines and China Eastern Airlines. There are limited competition from private operators in the commercial passenger market such as Spring Airlines but the state owned operators have the political and financial support from the central government to lead the market.