News Content
China sets up aircraft engine factory in bid for global leadership
CHINA has set up a new state-owned aircraft engine maker to help fulfil it ambitions to develop home-grown aerospace giants to become major players in global aviation, reports the Wall Street Journal.
Aero Engine Corp of China, or AECC, which has CNY50 billion (US$7.5 billion) in registered capital and 96,000 employees, will focus on the design, manufacture and testing of aircraft engines, reports Xinhua.
Its investors include the Chinese government and two state-owned firms: Aviation Industry Corp of China, an aerospace and defence conglomerate, and Commercial Aircraft Corp of China, which produces passenger jets.
China has struggled to produce advanced jet engines capable of matching foreign rivals, despite significant state funding and decades of effort.
Aero Engine Corp of China, or AECC, which has CNY50 billion (US$7.5 billion) in registered capital and 96,000 employees, will focus on the design, manufacture and testing of aircraft engines, reports Xinhua.
Its investors include the Chinese government and two state-owned firms: Aviation Industry Corp of China, an aerospace and defence conglomerate, and Commercial Aircraft Corp of China, which produces passenger jets.
China has struggled to produce advanced jet engines capable of matching foreign rivals, despite significant state funding and decades of effort.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
