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Following the demonstration meeting for the "National Unified Low-Altitude Traffic Network" project held by the China Low-Altitude Economy Alliance, the draft revision of the Civil Aviation Law was submitted for its first review at the 14th session of the Standing Committee of the 14th National People's Congress on [specific date]. The draft revision, comprising [specific number] chapters and articles, introduces comprehensive amendments and improvements to the current Civil Aviation Law. It aims to provide a solid legal foundation for fostering new growth engines like the low-altitude economy and promoting the high-quality development of the civil aviation industry.

The amendment to the Civil Aviation Law comprehensively summarizes the implementation experience of the current law, accurately addresses the institutional demands arising from the development of civil aviation practices, and focuses on enhancing the relevance and effectiveness of the revisions. The main modifications in the draft amendment include: clarifying the overall requirements for the high-quality development of civil aviation, strengthening safety guarantees for civil aviation activities, promoting the development of general aviation and the low-altitude economy, enhancing the protection of passenger rights, and improving the design of legal systems related to foreign affairs.

Industry insiders indicate that the low-altitude sector is expected to benefit from accelerated production scheduling and certification approvals by original equipment manufacturers (OEMs) this year, coupled with the current high demand for low-altitude aircraft orders. Downstream demand areas such as public and government services for low-altitude aircraft may exhibit significant flexibility. At the same time, the low-altitude economy is receiving further policy support, potentially triggering a three-dimensional resonance of policy, technology, and orders.

According to forecasts by the Civil Aviation Administration of China, the market size of China's low-altitude economy will reach X trillion yuan in a certain year and is expected to hit Y trillion yuan by another specified year. The Greater Bay Area Institute of Digital Economy predicts that by a certain year, the low-altitude economy will contribute between A trillion yuan and B trillion yuan to China's national economy in comprehensive value. (Note: The original text contains placeholders like ".万亿元" and "年" without specific numerical values or years. For a complete translation, these placeholders would need to be replaced with actual figures.)

Hong Kong Special Administrative Region (HKSAR) Government Financial Secretary Paul Chan Mo-po delivered the government budget for the fiscal year at the Legislative Council Complex in HKSAR on the day of the month. Chan mentioned that the Development Low-altitude Economy Task Force, established at the end of last year, is reviewing applications for the first batch of regulatory sandbox pilot projects and will soon announce the results. He expressed hopes that through these pilot projects, the scope of low-altitude flight applications can be gradually expanded, creating new growth opportunities for Hong Kong's economy.

Currently, various regions across the country are rolling out policy measures to support the development of the low-altitude economy. These include frequent introductions of favorable policies for the low-altitude economy, as well as plans to utilize financial tools such as special bonds and ultra-long-term special treasury bonds to provide stable funding sources for its growth. Represented by the Wuxi, Jiangsu Low-Altitude Economy and Aerospace Industry Special Fund, which has a scale of billions, cities like Beijing, Guangzhou, Wuhan, and Suzhou have also established low-altitude economy industrial funds, with a total scale exceeding 100 billion yuan.

It is worth noting that low-altitude transportation, low-altitude logistics, and low-altitude tourism will become the main growth areas. Founder Securities believes that the low-altitude economy industrial chain highly overlaps with the new energy vehicle industrial chain. The three-electric system, intelligent driving technology, and lightweight technology of new energy vehicles have laid a solid industrial foundation for the development of the low-altitude industry. Additionally, in terms of screening investment opportunities, Soochow Securities considers early-stage infrastructure and aircraft manufacturing as key investment directions. Attention should be paid to policy-guided airport infrastructure, airspace management, and digital and intelligent flight-related pre-construction safeguards.

Text/Bi Ruolin

Editor/Sun Nan

Review/He Xiaoxi

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