Beijing's new multi-billion dollar airport, Daxing International, was forma...
BEIJING - Beijing’s new multi-billion dollar airport, Daxing International, was formally declared open by President Xi Jinping on Wednesday, days ahead of the 70th anniversary of the founding of the People’s Republic of China.
The 450-billion-yuan project, completed in less than five years, will give a boost to infrastructure growth, flagging amid the biggest economic slowdown in decades, as China and the United States remain locked in a trade war. The phoenix-shaped airport, abbreviated PKX, is located in Beijing’s south and will help ease pressure on the existing Capital International Airport in the capital’s northeast, where capacity constraints often cause flight delays.
China aims to build Daxing, which is expected to become one of the world’s busiest airports, into a global aviation hub, as the country is forecast to overtake the United States as the world’s largest aviation market by 2022.
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