CHINA is expected to be a 30 million tonne airfreight market by 2020 and growth will continue at six per cent a year, predicted Hong Kong airport CEO Stanley Hui.
Mr Hui's forecast was delivered as the keynote speech to the Air Freight Asia conference, part the Asian Aerospace 2007 in Hong Kong this week. "Airfreight is a potent economic force, creating millions of jobs in the global economy," he said. "Airfreight is indisputably one of the world's most important industries."
Mr Hui told delegates the air cargo industry was largely generated by China. Airfreight offers "an even more promising future by delivering lower costs and enabling the world industry's to fulfil its just-in-time philosophy," he said.
Mr Hui urged the airfreight industry to continue optimising costs and cash flow to deliver increasingly cost-effective and reliable services.
Hong Kong's position near the power-house of China's Pearl River Delta industrial base is important because of the proximity of all major cargo and logistics companies in the country.
Mr Hui pointed out that it wasn't only trucks that forwarded freight onwards from Hong Kong airport's cargo terminals, but also barges travelling between the 17 ports in the Pearl River Delta region. As a result, a growing number of road and rail links are being developed through investment in bridges and tunnels.
He added that on account of China's rapid economic growth the outlook for the air freight business in Hong Kong, and the region as a whole, is optimistic and positive.
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