China markets in everything

 [[{“value”:”This is very interesting, and I think a world first: a local government in China has just sold its sky, literally. This is the government of Pingyin County, Jinan, Shandong Province who sold for 924 million yuan (approximately $130 million) a 30-year concession to operate and maintain its low-altitude economic projects to a company called
The post China markets in everything appeared first on Marginal REVOLUTION.”}]] 

This is very interesting, and I think a world first: a local government in China has just sold its sky, literally. This is the government of Pingyin County, Jinan, Shandong Province who sold for 924 million yuan (approximately $130 million) a 30-year concession to operate and maintain its low-altitude economic projects to a company called Shandong Jinyu General Aviation Co., Ltd. The “low-altitude economy” is a big trend in China at the moment. XPeng, one of China’s leading EV manufacturers, recently released a low-altitude flying car for instance. Drone deliveries are becoming increasingly common in Chinese cities, and various regions are actively developing low-altitude transportation networks. Shanghai, for instance, plans to establish 400 low-altitude flight routes by 2027. But this is the first time a local government has monetized its low-altitude airspace…

Here is more from Arnaud Bertrand.  Via Jesper.

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