In a China first, low-altitude sector hits turbulence as subsidies face reality check

A major Chinese tech hub is moving to pull the plug on dedicated funding for its low-altitude economy, making it the first city in the country to propose repealing a full financial support package for the sector. The proposal in Hangzhou, the capital of Zhejiang province, comes after the deadly crash of a small aircraft into Beijing’s tallest skyscraper in June. Still, some analysts contend that the reversal does not signal broader policy tightening for the low-altitude economy, but rather a...