CX Briefing: Air Canada Plans to Add More China Flights
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A rundown of the news making headlines in and around China:
Air travel: Canada’s largest airline plans to add more flights to China in the latest sign that air travel between the two countries is gradually returning to its pre-pandemic normal. Air Canada plans to restart its daily route between Vancouver to Beijing on Jan. 15 and resume daily flights between Vancouver and Shanghai starting Dec. 7. The airline’s announcement came after the Canadian Transportation Agency rescinded pandemic-era rules on Monday that had capped the number of flights that Chinese airlines could fly to the country. There is still a long way to go before flight numbers get back to pre-pandemic levels. In October, direct flights between the two countries were still more than 90% below where they were in the same month in 2019.
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- Air Canada plans to increase flights to China with daily routes from Vancouver to Beijing and Shanghai, amid easing travel restrictions.
- The People's Bank of China implemented a new liquidity tool by purchasing 500 billion yuan in securities through outright reverse repos.
- Hong Kong's monetary authority and Saudi Arabia's public fund agreed to establish a $1 billion investment fund, enhancing financial ties in sectors like manufacturing and fintech.
- Air Canada
- Air Canada plans to increase flights to China, resuming daily routes between Vancouver and Beijing on January 15, and Vancouver and Shanghai starting December 7. This move follows the lifting of pandemic-era restrictions on flights from China by the Canadian Transportation Agency. Current flight levels between Canada and China are still significantly below pre-pandemic numbers, with October figures more than 90% lower than the same month in 2019.
- Hong Kong Stock Exchange
- The Hong Kong Stock Exchange plans to establish an office in Saudi Arabia's capital next year. This is part of ongoing efforts to strengthen financial ties between Hong Kong and Saudi Arabia, including a memorandum of understanding between Hong Kong's Monetary Authority and Saudi Arabia's sovereign wealth fund to create a $1 billion investment fund in sectors like manufacturing, renewables, fintech, and health care.
- January 15, 2024：
- Air Canada plans to restart its daily route between Vancouver and Beijing.
- As of October 2024：
- Direct flights between Canada and China were still more than 90% below where they were in the same month in 2019.
- By October 30, 2024：
- Canadian Transportation Agency rescinded pandemic-era rules on the number of flights that Chinese airlines could fly to Canada.
- October 31, 2024：
- People's Bank of China (PBOC) announced the use of its new tool by purchasing 500 billion yuan in securities using the outright reverse repo for six months.
- October 31, 2024：
- Hong Kong Monetary Authority and Saudi Arabia's Public Investment Fund signed a memorandum of understanding to work towards a $1 billion investment fund.
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