China is shifting its private jets offshore, parking aircraft in aviation hubs such as Singapore and Japan to sidestep tougher compliance requirements at home, analysts say. Meanwhile, corporate executives are increasingly opting for commercial flights or shared jet services as economic headwinds weigh on the country’s business aviation sector.
Industry data and expert commentary suggest that a combination of stricter operating rules, higher costs, political sensitivities and a prolonged economic slowdown is reshaping how China’s richest individuals travel—reducing the appeal of owning and operating private aircraft on the mainland.
According to Hong Kong-based aviation services firm Asian Sky Group, the number of business jets registered in mainland China fell to 249 last year from 270 in 2023, continuing a steady contraction. The charter fleet also shrank, declining by three aircraft to 46 as of June this year compared with two years earlier.
The downturn in mainland China contrasts with growth elsewhere in the region. Hong Kong recorded a net gain of one business jet last year, bringing its total to 56. Singapore saw its fleet expand by nine aircraft, while the Asia-Pacific region as a whole added 14 business jets, lifting the regional total to 1,156, Asian Sky Group said.
Crucially, analysts note that a growing share of aircraft based outside mainland China are still owned by Chinese nationals.
“What we’re seeing is more aircraft quietly rebased in places like Singapore and Japan,” said Subramania Bhatt, chief executive of travel marketing and technology firm China Trading Desk. “The planes are still being used by Chinese owners, but they’re no longer primarily operated from the mainland.”
Industry participants say regulatory changes introduced this year have added friction to private jet operations in China. Authorities now require aircraft to be documented and approved by Chinese regulators at least five business days before any landing permit request—up from three previously.
While the extended timeline gives regulators greater flexibility to assess security and airspace availability, operators say it complicates travel planning, particularly for executives who rely on private jets for short-notice trips.
In addition, business aircraft face operational restrictions at major airports. Private planes are not permitted to take off or land during peak commercial flight hours in cities including Beijing, Shanghai, Guangzhou and Shenzhen—four of the country’s busiest aviation hubs, which together host six of China’s 10 busiest airports.
“These rules are making it more difficult to fly out of China,” said Charles Chang, a finance professor at Fudan University in Shanghai. As a result, some of China’s wealthiest individuals are choosing to base their aircraft offshore, where flight approvals are typically faster and airspace access is less constrained, he added.
Beyond regulatory hurdles, analysts point to broader shifts in wealth and residency patterns among China’s elite. Some high-net-worth individuals have relocated abroad in recent years, taking their aircraft with them.
“They may still visit China, but China is no longer their primary place of residence,” said Alfredo Montufar-Helu, China-based managing director at Ankura Consulting.
UBS has previously reported that three Chinese billionaires moved away in 2024, contributing to a sharp drop in the number of billionaires to 427 from 520 in 2023. The decline was largely attributed to the prolonged slump in the property sector and volatility in financial markets, which eroded asset values and reduced overall wealth.
The optics of conspicuous consumption also remain a concern. Beijing’s anti-corruption campaign, now more than a decade old, has fostered a cautious environment in which highly visible symbols of wealth—such as private jets—can attract unwanted attention.
“Rising storage and maintenance costs, combined with political sensitivities, make private jet ownership less appealing than it once was,” Chang said.
As a result, some affluent individuals and senior executives are choosing to fly commercially, analysts say—sometimes even opting for economy class on shorter routes, though first-class and business-class cabins remain popular for long-haul travel.
“This group is still going to travel,” Chang said. “They’re just going to get on flights.”
Others are turning to alternatives that offer flexibility without the burden of ownership. Bhatt noted that some wealthy travellers are chartering jets on demand rather than buying their own aircraft.
Asian Sky Group data show that the decline in mainland China’s chartered business jets over the two years ending in June was 6.1 per cent, slightly less severe than the 7.8 per cent overall drop in business jet numbers from 2023 through 2024. This suggests that while ownership is falling out of favour, demand for private aviation services has not collapsed entirely.
Wealthy travellers without their own planes may also combine commercial and private options. David Dixon, Hong Kong-based president of business jet seller Jetcraft Asia, said it is increasingly common for Chinese clients to fly first class to Europe or the United States before transferring to business jets operated by firms such as Flexjet or NetJets.
“This hybrid model gives them privacy and flexibility where it matters most, without the regulatory and political complexities of operating a jet out of mainland China,” Dixon said.
Underlying these shifts is China’s broader economic slowdown, which has weighed heavily on sectors that once drove demand for private aviation. Business jets in China have traditionally been used for rapid access to industrial sites, mining assets in remote regions, and property developments across the country and wider Asia.
“As China’s economic growth slowed, purchasing power weakened, leading to a decline in demand for business jets,” Asian Sky Group said in a March report on the industry. The firm cited the cooling real estate market as a particularly clear example, noting that developers and investors—once among the biggest users of private aircraft—have scaled back sharply.
The slowdown has also affected corporate travel budgets, with companies scrutinising costs more closely and executives facing greater pressure to justify the use of private aviation.
Despite the current contraction, China’s authorities continue to signal long-term support for the development of civil aviation infrastructure, including facilities that could eventually benefit business aviation.
State media has reported plans to increase the number of civilian airports to 450 by 2035, up from 234 in 2019, as part of broader efforts to improve connectivity and support regional economic development. Industry observers say that while these investments may eventually create more opportunities for private aviation, regulatory and political factors will remain decisive in shaping demand.
Globally, the outlook for business aviation remains relatively upbeat. U.S. aerospace manufacturer Honeywell has forecast deliveries of 8,500 new business jets over the next decade, with a combined value of US$283 billion. The company expects average annual growth of about 3 per cent, driven by demand in North America, the Middle East and parts of Asia outside mainland China.
For now, however, China appears to be moving against that global trend. The quiet rebasing of aircraft abroad, the shift toward commercial travel and shared jet services, and the decline in domestic fleets all point to a reassessment by the country’s wealthy of how—and where—they choose to fly.
“The planes haven’t disappeared,” Bhatt said. “They’ve just moved.”
