Beijing’s $63 billion airport begins operations

The airport was built in less than five years. Shaped like a phoenix the airport was designed by famed Iraqi-born architect Zaha Hadid. (Reuters)
Updated 28 October 2019
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Beijing’s $63 billion airport begins operations

  • 50 foreign airlines to move all or part of their China operations to the airport
  • The relocation of all the airlines, which will use Daxing is to due to be completed by the winter of 2021

BEIJING: Beijing’s new $63 billion Daxing airport began its first scheduled international flights on Sunday as it ramped up operations to help relieve pressure on the city’s existing Capital airport.

Shaped like a phoenix — though to some observers it is more reminiscent of a starfish — the airport was designed by famed Iraqi-born architect Zaha Hadid, and formally opened in late September ahead of the Oct. 1 celebrations of the 70th anniversary of the People’s Republic of China.

It boasts four runways and is expected to handle up to 72 million passengers a year by 2025, eventually reaching 100 million.

China Southern Airlines and China Eastern Airlines will be the main domestic carriers at Daxing, though Air China will provide a small number of flights too.

An Air China flight to Bangkok was the first international flight to leave on Sunday, while British Airways will operate the first transcontinental flight, to London.

About 50 foreign airlines, including Finnair, plan to move all or part of their China operations to the airport in the coming quarters.

The relocation of all the airlines, which will use Daxing is to due to be completed by the winter of 2021. Air China and its Star Alliance partners will remain mostly at Capital airport.

The airport, roughly the size of 100 football fields and expected to become one of the world’s busiest, has come in for some criticism due to its distance from central Beijing.

By public transport it takes over an hour to reach it from Beijing’s central business district, more than double the time needed to reach Capital airport, which strains at the seams and is often hit by delays.

Officials say Daxing airport is not only designed to serve Beijing, but also the surrounding province of Hebei and next-door city of Tianjin, to boost regional development.


Closing Bell: Saudi main market edges up to 10,745 points 

Updated 12 January 2026
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Closing Bell: Saudi main market edges up to 10,745 points 

RIYADH: Saudi equities closed higher on Monday, with the Tadawul All Share Index finishing up 135.69 points, or 1.28 percent, at 10,745.45. 

The MSCI Tadawul 30 Index also advanced, rising 22.21 points, or 1.57 percent, to close at 1,436.31, while the Nomu Parallel Market Index slipped 31.80 points, or 0.13 percent, to 23,586.94. 

Market breadth was positive on the main market, with 216 gainers against 42 decliners, while Nomu saw 42 stocks advancing and 36 declining. 

Trading activity picked up, with 261.7 million shares changing hands, while total turnover reached SR5.10 billion ($1.3 billion). 

Among the top performers, Saudi Fisheries Co. led the gains, closing at SR63.90, up SR5.80, or 9.98 percent. Naseej International Trading Co. rose to SR34.94, gaining SR3.16, or 9.94 percent, while Dar Al Arkan Real Estate Development Co. ended at SR16.74, up SR1.16, or 7.45 percent. 

Zahrat Al Waha for Trading Co. added 6.84 percent to close at SR2.50, and Alamar Foods Co. climbed 5.75 percent to SR42.70.  

On the losing side, Al Masar Al Shamil Education Co. fell 4.36 percent to SR23.90, while Saudi Paper Manufacturing Co. declined 2.82 percent to SR62.05.  

United International Holding Co. slipped 2.36 percent to SR153.40, Saudi Aramco Base Oil Co. dropped 2.09 percent to SR98.60, and United Electronics Co. eased 1.90 percent to SR85.00.  

On the announcement front, Mouwasat Medical Services Co. announced that its board has approved the establishment of a new hospital in Riyadh’s Al-Narjis District, with a planned capacity of 280 beds and a total investment cost of SR900 million.  

The project will be financed through a mix of self-funding and long-term Shariah-compliant bank facilities, with further details on timelines and financial impact to be disclosed at a later stage.  

Shares of Mouwasat Medical Services Co. closed at SR67.95, gaining SR1.40, or 2.10 percent. 

Saudi Arabian Mining Co. reported a net addition of 7.8 million ounces of new gold resources following extensive exploration and drilling activities across multiple sites, alongside the identification of new mineralization opportunities in gold and base metals. 

The company noted that the financial impact of these discoveries has yet to be determined and will be assessed in due course.  

Shares of Saudi Arabian Mining Co. closed at SR67.50, up SR3.05, or 4.73 percent.