Henan Province Airport Group signed a strategic cooperation agreement with China Minsheng Investment Group and China Reform Holdings Corporation on Monday.

According to the agreement, an aviation industry development fund of 50 billion yuan (7.3 billion US dollars) will be set up, aiming to accelerate the construction of the aviation logistics network with the global reach in central China's Henan province.

Data show that the airfreight scale at the Zhengzhou Xinzheng International Airport continues to expand over the years, ranking 7th among all the airports in China with a handling capacity of 457,000 tons in 2016.

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