The Civil Aviation Administration of China (CAAC) is set to publish plans to tap foreign and domestic capital markets to improve airport infrastructure and expand the country's air fleet over the next five years.
Plans include listing more mainland airlines overseas, selling bonds and launching investment funds, according to a soon-to-be published five-year blueprint for the industry.
The aviation regulator will also encourage certain Chinese airlines to sell shares to domestic institutional investors and lure foreign investment to Chinese airports.
The CAAC, which drew up the five-year plan, has vowed to spend more money on upgrading air control systems and strengthen staff training to improve its safety and punctuality records.
According to the five-year plan, the CAAC intends to 'greatly' expand its international routes and strengthen controls over domestic airlines to compete with foreign airlines.
It will seek co-operation with foreign airlines on code-sharing and joint route operation.
It aims to direct most foreign investment in its infrastructure and technical upgrades.