EyesOnsci | Shenyang poised to foster low-altitude economy as a new growth engine-Xinhua

Staff members assemble the fuselage of an aircraft at a plant of AVIC SAC Commercial Aircraft Company Ltd. in Shenyang, northeast China's Liaoning Province, April 25, 2024. (Xinhua/Yang Qing)

SHENYANG, May 15 (Xinhua) -- The low-altitude economy is emerging as a forerunner in developing new quality productive forces across China. Shenyang, one of the country's oldest industrial hubs noted especially for its aerospace R&D and manufacturing sector, has established a robust industrial chain that provides a solid foundation for the development of the low-altitude economy.

The low-altitude economy is an economic concept that relies on low-altitude airspace, with the general aviation sector playing a dominant role. It involves economic sectors such as low-altitude flight, air tourism, passenger transportation, general aviation services, scientific research and education, among others.

The market size of China's low-altitude economy is expected to surge from over 500 billion yuan (about 70.36 billion U.S. dollars) in 2023 to 2 trillion yuan by 2030.