China, Shanghai, 2022 July 6 On June 29, Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone Administration (hereinafter referred to as Lin-gang Special Area Administration) and China Eastern Airlines Co., Ltd. (CEA) signed a strategic cooperation agreement in the first lecture hall of Lin-gang Special Area Administration Zone E. According to the agreement, the two sides will jointly launch seven projects with a total investment of more than 22 billion yuan (approx. 3.3 billion USD). The projects will cover a one-stop air logistics hub for the Asia-Pacific region, an international aviation maintenance service platform, an Asia-Pacific aviation materials trade and distribution center, aviation financial services and aviation ground equipment system services, an aero-engine joint venture and livable digital green micro city.
As the seventh largest airline company in the world and the largest airline company whose main base is located in Shanghai, CEA can provide more than 150 million passengers with air travel services and reach 1,036 destinations in 170 countries around the world every year. Lin-gang Special Area, located in the southeast of Shanghai, is adjacent to Shanghai Pudong International Airport to the north and Yangshan International Hub Port to the south. By 2025, the Lin-gang Special Area will basically grow into a high-level global shipping hub with open and innovative shipping system, full-fledged and intelligent shipping hub, efficient shipping logistics service system and cluster of high-end shipping service providers.
Leveraging advantages of the Shanghai Pudong International Airport, a global aviation hub, and great industrial strength in large aircraft manufacturing, CEA will carry out seven major aviation-related cooperation projects, suggested the strategic agreement. The signature of the agreement is expected to further strengthen the role of the southern area of the Pudong Airport in Yangshan Special Comprehensive Bonded Zone as an open portal hub, facilitate the development of high-end air transport services, and help foster a vibrant aviation industry cluster.