(Yicai Global) Sept. 18 -- Guangzhou will invest USD 48.93 billion (CNY314.515 billion) to make the city as an international aviation hub. It plans to promote 80 key projects in fields including infrastructure, aeronautical maintenance, aviation and logistics.

The Guangzhou Municipal Government recently agreed to issue its Three-year Action Plan for Promoting the Construct of the Guangzhou International Aviation Hub and Airport Economic Demonstration Zone, Jiemian News reported today.

Guangzhou will advocate preliminary work such as a feasibility research report to be submitted this year and hopefully approved next year, and project approval of fourth and fifth runways as well as a third terminal at Baiyun International Airport, the scheme said. Guangzhou will accelerate work on its plan to select a site for its second airport.

Guangzhou will try its best to set up an Air Silk Road with Guangzhou at its center, and form a "four-hour air traffic circle" with the main cities in China and Southeast Asia. The addition of international non-stop flights will form a "12-hour air traffic circle" with the major global cities.

Guangzhou will add tag through services and try to establish Baiyun International Airport as an international transit center for Belt and Road countries. The construction of the Airport Economy Demonstration Area will help local airlines in Guangzhou develop.