Core Viewpoint - The official operation of the third runway at Shenzhen Airport marks the beginning of the "three-runway era," enhancing the airport's capacity and operational efficiency [1][2]. Group 1: Third Runway Operations - The third runway is 3,600 meters long and 45 meters wide, classified as a 4F level, accommodating various large aircraft [2]. - The runway will operate in conjunction with the existing two runways, optimizing flight operations with eight different modes based on flight volume [2]. - The introduction of the third runway is expected to alleviate operational pressure, increase flight frequency, and enhance cargo and passenger capacity [2]. Group 2: Future Projections - By 2024, Shenzhen Airport's annual passenger flow is projected to exceed 60 million, with expectations to reach 65 million by 2025, alongside a cargo throughput surpassing 2 million tons [2]. - The airport's infrastructure will evolve into a "3+3+3+1" model, including three terminals, three cargo areas, and three runways, aiming to support an annual passenger throughput of 80 million and cargo of 4.5 million tons [2]. Group 3: Regional Airport Expansion - The Greater Bay Area is witnessing a collective expansion of airports, with significant projects like the new T3 terminal and fifth runway at Baiyun International Airport, which can handle 120 million passengers annually [3]. - Other airports in the region, such as Huizhou, Hong Kong, and Foshan, are also undergoing expansions to enhance their passenger and cargo capacities [3][4]. - The development aligns with the Guangdong-Hong Kong-Macao Greater Bay Area plan to establish a world-class airport cluster, improving the competitive position of airports in the region [4].

Core Insights - A significant transformation is underway in the Greater Bay Area's airport infrastructure, with multiple airports expanding their capabilities to enhance regional connectivity and competitiveness [3][11][29]. Infrastructure Developments - Hong Kong International Airport has fully operationalized its third runway and is progressively opening its expanded second passenger terminal, with the departure hall expected to be operational by 2026, aiming to handle 120 million passengers and 10 million tons of cargo annually [10][11]. - Guangzhou Baiyun International Airport's T3 terminal and fifth runway are now operational, positioning it as the first airport in China with five commercial runways, capable of accommodating 120 million passengers and 3.8 million tons of cargo annually [5][11]. - Shenzhen Bao'an International Airport has inaugurated its third runway, enhancing operational efficiency and supporting future international routes, with a projected capacity of 80 million passengers and 4.5 million tons of cargo annually [7][11]. Economic Impact - The expansion of the airport infrastructure is a response to the growing demand, with the total passenger throughput in the Greater Bay Area expected to exceed 200 million by 2024, and projected to reach 420 million by 2035 [11][12]. - The economic scale of the Greater Bay Area is substantial, with a GDP exceeding 14.79 trillion yuan and foreign trade accounting for nearly one-fifth of the national total, driving significant demand for air travel and logistics [12][14]. Strategic Objectives - The airport expansions aim to break capacity bottlenecks and enhance service quality, ensuring that the Greater Bay Area remains competitive against rapidly developing regional hubs [15][16]. - The upgrades are designed to strengthen the competitive advantage of the real economy by improving logistics and supply chain resilience, particularly for high-value industries such as electronics and cross-border e-commerce [18][19]. Connectivity and Integration - The development of a world-class airport cluster is expected to enhance the international circulation capabilities of the Greater Bay Area, facilitating tighter connections with the global economy [21][26]. - The airports are working towards creating integrated transport networks, including air-rail connections, to streamline passenger and cargo movement across the region [25][26]. Collaborative Challenges - The growth of the airport infrastructure presents challenges in transitioning from competition to collaboration among the major airports in the region, necessitating coordinated efforts to optimize route networks and service offerings [27][29]. - The Greater Bay Area is at a critical juncture in its development, requiring a well-coordinated air transport system to enhance global resource allocation and participation in international supply chains [29][30].