Fast-tracking development of China’s fledgling private aviation market is the main goal for the new China Business Jet Shanghai Alliance announced yesterday by Minsheng Financial Leasing Co. (MSFL). But crucially, the new body is led by the Civil Aviation Administration of China (CAAC) and it is the first official Chinese organization to include 17 major business jet manufacturers.

In addition to MSFL, the first Alliance members are Airbus, Boeing, Bombardier, Cessna, Dassault, Embraer, Gulfstream and Hawker Beechcraft. Operators and other companies represented include: Capital Airlines, China Eastern, Donghai Jet, Nanshan Jet, Wing-on Travel, Zhuhai Helicopter and First Mandarin Business Aviation.

The Alliance will meet on a regular basis and has pledged to make concerted efforts “to share information” and to create a “standard code of conduct to promote a sound and orderly development of the market.” There are political objectives, too, including addressing barriers to growth in China such as opening up restricted upper airspace to business aircraft, reducing taxes and bringing in experts from throughout the global industry to develop a better operating environment. Safety is the key focus, as well as the development of facilities and training for maintenance, repair and overhaul and ground handling.

Also announced yesterday, on the eve of the 2012 ABACE show, was the Shanghai Declaration. This is meant to be the basis of long-term cooperation between Chinese and international players to develop China’s business aviation industry.

“This is just a starting point,” said MSFL president Kong Linshan. He said that China’s installed fleet of business jets could reach 1,000 over the next decade, with aircraft financed by MSFL accounting for 70 percent of the market. “China’s business jet market is catching more and more attention throughout the world, with an increasing number of product and service providers turning their business focus here.”

MSFL controls the largest bizjet fleet in Asia and has said it intends to list on both the Chinese and Hong Kong stock exchanges within the next few years.