An increasing number of wealthy Chinese people aretrying to acquire private jets despite stringent regulatory andinfrastructural barriers, according to the Southern Weekly. The government has allowed individuals to own and fly privateaircraft since 2003, but 10 years ago a personal jet was only adream for even the richest mainland Chinese. That is no longer thecase. In March of this year, China’s first private plane 4S shop openedin Zhuhai, Guangdong Province, and sold 14 planes in the firstweek.
With demand heating up, the company plans to open 40 morestores in other cities. According to a survey of China’s richest people released by theHurun Report at an aviation conference in Shanghai, 13 percent ofChinese with personal assets over 100 million yuan (US$15.8million) plan to buy business jets. Tough rules On March 26, 2012, a private jet adorned with two dragon-shapedpatterns was put on display at the Asian Business AviationConference and Exhibition at Shanghai’s Hongqiao Airport. The ownerof the plane was Hong Kong superstar Jackie Chan, the SouthernWeekly reports.
The plane was a Legacy 650, a business jet purchased from aBrazilian aerospace conglomerate that produces commercial, militaryand executive aircraft. Chan is currently the company’s ambassadorto the Asian market. Among Chinese celebrities, Chan is not the only one with a privateairplane. Others include comedian and actor Zhao Benshan,singer-songwriter Jay Chou (Zhou Jielun) and actress Zhang Ziyi,each of whom own business jets valued at more than US$10 million. Jackie Chan’s Legacy 650 has a market value of 200 million yuan($31.6 million) and a range of 7,223 kilometers, allowing it to flynon-stop from Beijing to Dubai. Perkins EST
According to statistics provided by U-jet magazine to SouthernWeekly, there are currently some 3,000 private airplanes in China. However, not all private airplanes are business jets, which carry aprice tag of more than US$10 million and fly at the same altitudesand speeds as commercial airplanes. Of those business jets, only 100 fly more than 0.8 hours a day, incontrast to the 9.5 hours of average daily flying time forcommercial airplanes figures that are insignificant compared tothe 200,000 private airplanes and 15,000 business jets in the U.S. The main reasons are tough aviation regulations and infrastructuralbarriers. Auto Transponder Chip
In China, individuals with private jets must be licensed,the plane must have a certificate of airworthiness from the CivilAviation Administration and its flight plans must be approved byboth the Civil Aviation Administration and the air force. Approval of a flight plan is the most difficult to obtain, leadingmany aircraft owners to risk fines of 100,000 yuan (US$15,780) tofly, revealed Zhu Songbin, a businessman from Wenzhou, ZhejiangProvince, who hopes the government will consider easing regulationsfor private airplanes. Hungry for status Wealthy Chinese are not prone to sticker shock when shopping forluxury cars or private jets. In fact, according to the SouthernWeekly, most of them have a similar response after hearing theprice of an airplane: it’s so cheap! They always ask for the most expensive models, even if they won’tbe able to fly them often, because private jets are symbols ofstatus. Launch x431 Master Scanner
Furthermore, prices of business jets are increasing, so they aregood investment choices by value, said Wang Xinyu, a salesperson ata business jet firm. Last year, Zhao Benshan rented out his private jet for US$10,000per hour. It was an unexpected move that revealed one of the manybenefits of owning an airplane. The World Journal, a Chinese-language newspaper headquartered inNew York, recently predicted that China’s business jet market willundergo a period of rapid growth despite complaints from buyers,and that in 10 years the number of private airplanes here may evenexceed that the United States. VIP service Between Terminal 2 and Terminal 3 of the Beijing CapitalInternational Airport there is a two-story building nicknamed the”business jet building.” According to Ren Yong, a staff member there, only a limited numberof people in China can use it.
For business jets, only three cities Beijing, Shanghai and Shenzhen have such facilities toprovide premium services, he added. A security line specially designed for business jet passengersleads from the building to the planes. In 2008, Rupert Murdoch wasthe first person in Beijing to use it. With the business jet market growing rapidly, three such terminalsare no longer enough to satisfy China’s needs, and cities such asTianjin and Dalian are now constructing their own.
Without such facilities and corresponding services, a city cannotbe described as international, said Ren.