SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K


                        REPORT OF FOREIGN PRIVATE ISSUER

                      PURSUANT TO RULE 13a-16 OR 15d-16 OF

                       THE SECURITIES EXCHANGE ACT OF 1934


                         For the month of October, 2003

                     CHINA SOUTHERN AIRLINES COMPANY LIMITED
                 (Translation of registrant's name into English)

                          Baiyun International Airport
                      Guangzhou, People's Republic of China
                    (Address of principal executive offices)


     (Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.)

            Form 20-F.    X                Form 40-F.
                       --------                       --------

     (Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

            Yes.               No.    X
                 -------           --------

     (If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-________.)





     China Southern Airlines Company Limited (the "Company") on September 30,
2003 published in local newspapers in Hong Kong an announcement in Chinese and
English, respectively, concerning the decision of the Company to borrow new bank
loans for repayment of certain existing bank loans borrowed by the Company for
its acquisition of 20 Boeing 737-800 aircraft. A copy of the English
announcement is included in this Form 6-K of the Company.






The Stock Exchange of Hong Kong takes no responsibility for the contents of this
announcement, makes no representation as to its accuracy or completeness and
expressly disclaims any liability whatsoever for any loss howsoever arising from
or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in
 the People's Republic of China with limited liability)

ANNOUNCEMENT

Summary

The Directors hereby announce that on September 29, 2003, the Board has
considered and approved the resolutions concerning the application by the
Company for two US dollars loans in the aggregate sum of US$255,694,579.27 from
Bank of China, Guangdong Branch, for the purposes of repaying certain of the
existing bank loans borrowed by the Company for the acquisition of the 20 Boeing
B737-800 aircraft, details of which acquisition were previously disclosed in the
Company's announcement dated October 3, 2001 and the Company's circular to
shareholders dated October 26, 2001.

Pursuant to Article 111 of the Articles of Association of China Southern
Airlines Company Limited (the "Company"), the board of directors (the "Board")
of the Company has considered and approved the resolutions concerning the
application by the Company for United States ("US") dollars loans from Bank of
China, Guangdong Branch ("Bank of China"), by way of written consent. The
relevant resolutions should be considered by 15 directors, and were considered
by the 15 directors of the Company in accordance with the requirements under the
Company Law of the People's Republic of China and the Articles of Association of
the Company on September 29, 2003. The Board has approved the following
resolutions on September 29, 2003:

1. the application for a medium to long term US dollars loan (with an option for
the Company to apply for an equivalent amount of loan in Renminbi) in the sum of
US$138,566,854 ("First Tranche US dollars Loan") for a period of eight years
from Bank of China, was approved;

2. the proposal to pledge one B2695 aircraft, one B2696 aircraft, one B2697
aircraft




and three B737-800 aircraft to Bank of China together with the signing of
relevant security undertakings and undertakings for transfer of insurance rights
as security for the First Tranche US dollars Loan was approved;

3. the application for a short term foreign currency loan in the sum of
US$117,127,725.27 for a period of three years from Bank of China was approved
("Second Tranche US dollars Loan");

4. Mr. Xu Jie Bo was authorized to sign on behalf of the Company the relevant
legal documents for the purposes of effecting the abovementioned financing with
Bank of China.

The First Tranche US dollars Loan and Second Tranche US dollars Loan will be
applied to repay certain of the existing bank loans borrowed by the Company for
the purposes of acquiring the 20 Boeing B737-800 aircraft, details of the
acquisition of aircraft were previously disclosed in the Company's announcement
dated October 3, 2001 and the Company's circular to shareholders dated October
26, 2001.

By order of the Board
Su Liang
Company Secretary

Guangzhou, the People's Republic of China
September 29, 2003






                                   SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                       CHINA SOUTHERN AIRLINES COMPANY LIMITED



                                       By            /s/ Su Liang
                                          --------------------------------------
                                          Name:  Su Liang
                                          Title: Company Secretary


Date: October 8, 2003