China yesterday threw open its coveted travel and high-value trade sectors to American competitors after forging an air services agreement (ASA) that will see five times as many flights between the countries by 2010.
The deal gives five new airlines from each side access to the US-mainland markets and will see weekly flights grow to 249 from 54 in the next six years.
'This agreement recognises the critical role of commercial aviation in the rapidly growing US-China trade relationship,' US Transportation Secretary Norman Mineta said.
'This agreement represents a giant step forward in creating an international air transportation system that meets the needs of the new global marketplace.'
All code-sharing restrictions were immediately lifted and both countries' airlines will be allowed to fly to any city.
The deal comes as Cathay Pacific Airways grows increasingly frustrated by a lack of progress in Hong Kong-mainland talks.