Wendy Zhang/ Shanghai Daily news

Passengers leaving Shanghai are happy to know that they can enjoy up to a 60 percent discount on airfares, despite it still being a fortnight from the end of the peak summer travel period of July-August, today's Laodong Daily reported.
Air China is offering a 560 yuan (US$69) fare from Shanghai to Shenzhen, a 60 percent discount on the list price. Shenzhen Airlines, China Southern Airlines and China Eastern Airlines are also offering up to 55 percent-off.
Fares from Shanghai to Chengdu were also discounted, by 55 percent. Fares for some routes have started to plunge in Shanghai, with more set to join the discount list by the end of the month, said an industry analyst, adding that in Beijing and Shenzhen, discounts of up to 75 percent are being offered.
Air-carriers, suffering from soaring fuel prices, have held prices high for one and a half months, hoping to recoup their losses during the peak travel period.