Core Points - The official opening of Guangzhou Baiyun International Airport's T3 terminal marks a significant upgrade in the airport's capacity and infrastructure, allowing for an annual passenger throughput of 120 million and a cargo capacity of 3.8 million tons [1][7] - The T3 terminal is part of a larger expansion that includes the introduction of multiple transportation options, enhancing the airport's role as a major transportation hub in the Guangdong-Hong Kong-Macao Greater Bay Area [3][7] - The new terminal features innovative design elements and integrates local cultural themes, setting several domestic records in airport design [4][6] Infrastructure and Capacity - The T3 terminal's operation coincides with the launch of the fifth runway, enabling the airport to handle a total of 120 million passengers annually [1][7] - The terminal's design incorporates a "flower" theme and features a panoramic aviation viewing platform, showcasing modern architectural elements [4][6] - The airport's cargo throughput is expected to reach 3.8 million tons, with future capacity potentially increasing to 14 million passengers and 6 million tons of cargo [7] Market Demand and Competition - The expansion of Baiyun Airport is driven by strong market demand, with a reported 20.9% year-on-year increase in passenger throughput for 2024 [7] - In comparison to other major airports, Baiyun Airport achieved a throughput of approximately 76.36 million passengers, ranking it behind Shanghai and Beijing [8] - The Greater Bay Area is home to a dense network of airports, with ongoing expansions at Hong Kong International Airport and Macau International Airport, indicating a competitive landscape [8][9] Collaborative Development - The five major airports in the Greater Bay Area have signed a cooperation memorandum to enhance collaborative development and functional differentiation [9] - Future projects include the construction of a new airport in Foshan to address regional aviation resource gaps and the development of a second airport in Shenzhen [9] - The trend towards collaborative airport development is expected to improve overall competitiveness and service levels in the region [9]