In a move to try and protect the country's aviation industry, the Chinese government has pledged to give those airlines hardest hit by the current economic downturn a CNY2.5bn (USD360m) tax concession.
Under the regime, airlines will no longer have to pay the 3% fuel surcharge currently required of them until 2011, and the government has stated that they will refund all of the surcharges already paid by airlines from January 1, 2008, in the companies' future tax bills.
In addition to this, 10 of the country's banks have teamed up with AVIC (the part-owner of China's Commercial Aircraft Corp) to offer them a multi-billion dollar loan with which to keep funding the development of new aircraft.
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