The Great Wall airfreight airline company, a Sino-Singaporean joint venture, was officially put into operation on Thursday.

The airline venture between Temasek, Singapore Airlines Cargo and China Great Wall Industry Corp, is the first Sino-foreign joint airfreight airline to go into operation in China.

China will continue to open its airfreight market to the outside world and welcome more Chinese and foreign enterprises to enter the sector, said the Civil Aviation Administration of China (CAAC) Director Yang Yuanyuan at the inauguration ceremony on Thursday.

Besides destinations within China, the new cargo airline will also serve destinations in the United States, Europe, Northeast Asia and Southwest Asia.

According to China's commitment to the World Trade Organization, China is allowing foreign investors to enter China's express delivery market.

It is expected that in the next few years, China's airfreight volume will maintain an annual growth rate of over 10 percent, much higher than the world's average annual growth of 6.2 percent.

Source: Xinhua