The city government of Beijing has approved a proposal to build a new airport in the southern suburb of Daxing. State-owned news agency Xinhua reported on 21 January that the airport will open by 2016 with an initial capacity of 40 million passengers per year. While no official announcement was made on the cost of construction, Jane's reported in late 2010 that various CAAC and local government sources suggest a budget of USD4 billion, making it slightly more expensive than Terminal 3 at Beijing Capital International Airport.
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