BEIJING - China's civil aviation authorities have approved the operation of Tianjin Air Cargo, a new cargo carrier based in the Beijing-Tianjin-Hebei region, said the carrier Friday.

The North China Regional Administration of the Civil Aviation Administration of China (CAAC) on Thursday issued the airline with its operation qualification certificate under the CCAR-Part 121, China's operation specification for major passenger airliners and cargo fleet carriers.

With this certification, Tianjin Air Cargo is authorized to conduct air cargo services.

Tianjin Air Cargo, based in North China's coastal municipality of Tianjin, was jointly founded by the municipal government and Hainan Airlines Group (HNA).

The airline has 700 million yuan ($101.66 million) in registered capital.

China's air freight industry has seen a surge in recent years. The country transported 7.06 million tons of air freight cargo in 2017, a 5.6 percent increase year-on-year.