About 150 private airplanes had been registered in China by April, according to media reports. Some experts estimate the growth in private plane ownership could be more than 20 percent a year. If that is correct, there will be more private planes in China than in the United States in a few years, says an article in Guangzhou Daily.
Many rich people in China own private planes. But compared with the US, the number of private planes in China is insignificant.
It is shocking to know, however, that there will be more private planes in China than in the US in a few years. This is not a wild guess, for it is based on reality, for rich Chinese are more profligate than their American counterparts when it comes to spending on luxury goods.
What is more shocking is that experts think this is possible despite domestic law on private plane ownership being stricter than the American law.
Rich Americans buy private planes for four reasons: to save traveling time, for "safety", promoting their companies' image and business cohesion.
By the way, in the US, not only owners and CEOs, but also other company employees use the planes. According to a survey in the US, only 14 percent top management executives use private planes. The rest of the users are senior managers, mid-level managers and other professionals of the companies.
In China, however, private planes are more of status symbols or "personal toys". Hardly any of the about 150 private planes owned by businesspeople in China is used for business promotion or other business purposes. That's why private plane ownership in China is nothing but a craze that threatens to grow stronger.
It is up to the government to find ways to regulate and manage the growing trend of private plane ownership. If the craze is allowed to grow unchecked, it could lead to social disorder and accidents in the sky.