[Andrew C]

Hay look at this

China launches competitor to Boeing, Airbus

May 12, 2008

CHINA unveiled its own jumbo jet maker in Shanghai yesterday in a move that could eventually rival Airbus and Boeing.

Commercial Aircraft Corporation of China will research, develop, manufacture and market a made-in-China large passenger aircraft, Xinhua news agency said.

China announced early last year that it planned to develop a 150-seat passenger aircraft, which could eventually compete against planes made by Boeing and Airbus, the world's two dominant commercial jet makers.

CACC has a registered capital of 19 billion yuan ($2.9 billion), Xinhua said, with the Chinese Government investing 6 billion yuan to become the largest shareholder.

State press reported in January that China's two major aircraft makers, both state-owned, were expected to consolidate their commercial aircraft manufacturing businesses and set up a firm to make a domestic passenger jet.

The two companies, China Aviation Industry Corp I (AVIC I) and AVIC II, are to be shareholders of the new aircraft maker, Xinhua reported yesterday.

The aircraft, expected to take off by 2020, will be assembled in Shanghai, with the nose, fuselage and tail sections to be manufactured in other parts of the country by companies controlled by AVIC I and AVIC II, according to earlier reports.

AFP

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