GBIAC(SH:600004) Nan Fang Du Shi Bao·2025-09-28 15:06Group 1: Major Events Highlighting the Bay Area's Aviation Hub Status - The International Airport Expo in Guangzhou attracted over 2,000 industry leaders from more than 70 countries, showcasing innovations like AI security checks and digital twin airport platforms, emphasizing China's aviation strength [4][5] - The World Route Development Forum held in Hong Kong provided a platform for global aviation network planners to explore new opportunities and foster closer cooperation in route development [4][5] - The consecutive hosting of these major events in the Greater Bay Area reflects its rapid ascent in the global aviation landscape and the strategic support for building a world-class airport cluster [4][5] Group 2: Infrastructure Expansion and Upgrades - The new Guangzhou East Ring Intercity Railway and several metro lines opened on September 29, enhancing connectivity to Baiyun Airport, with travel time from Guangzhou South Station to the airport reduced to 31 minutes [2][7][11] - Baiyun Airport's new Terminal 3, expected to be operational by the end of 2025, will have a capacity of 120 million passengers and 3.8 million tons of cargo annually, forming a super-large aviation hub with three terminals and five runways [5][11] - Hong Kong Airport is also advancing its three-runway system, which will increase airport capacity by over 50%, while Shenzhen Airport is constructing a three-runway project to enhance its international aviation hub capabilities [5][12] Group 3: Ground Transportation Network Development - The opening of the Guangzhou East Ring Intercity Railway will serve as the only rail connection to Baiyun Airport's T3 terminal, significantly improving ground transportation support for the airport [11][12] - The new rail lines will create a comprehensive intercity network in Guangdong, linking key areas such as University Town, Pazhou, and the financial district with Baiyun Airport [9][15] - The integration of ground transportation with airport operations is expected to enhance the efficiency of passenger flow between the airport and major urban centers [10][16] Group 4: Competitive Dynamics Among Bay Area Airports - The Greater Bay Area features seven airports, including major hubs in Guangzhou, Shenzhen, and Hong Kong, with a projected total passenger throughput of over 214 million in 2024, indicating significant growth [12][14][15] - Each airport is developing unique strategies: Baiyun Airport is focusing on expanding its "Belt and Road" routes, Hong Kong Airport is targeting long-haul routes, and Shenzhen Airport is enhancing its domestic and international offerings [17][18] - The collaboration and competition among these airports are expected to lead to a clearer functional division and cooperative network, enhancing overall connectivity in the region [17][18]