The Chinese economy is showing no signs of slowing down. After overtaking India to become the world’s biggest gold market in 2012 and overthrowing Japan to become the world’s second largest luxury good consumer, the country has now set yet another record. Courtesy the growing appetite of the wealthy Chinese citizens for all things luxurious, the nation is in the news once again.
Reportedly, a south China private jet dealer—Zhuhai Cirrus General Aviation Co. Ltd. (Zhuhai BAC), has sold 14 aircrafts since opening for business on Friday. Yes, in just four days, the dealer has seen sales take off almost immediately, with no sign of slowing down.
The dealer is the country's first fixed-base operator (FBO) that provides aeronautical services such as fueling, hangaring and aircraft maintenance. The models sold were U.S.-made lightweight Cirrus SR20s and SR22s, priced nearly 3 million yuan ($480,000) and 5 million yuan ($790,800) respectively!
Given the lengthy procedures and strict regulations that the jet-setting creamy layer of society has to go through to acquire private jets, this news is definitely surprising. If this trend continues, China will be the next hotspot for the aviation industry.