China to open its jumbo jet manufacturing company

China to open its jumbo jet manufacturing company
China National News
Sunday 11th May, 2008
(IANS)

Shanghai (China), May 11 (Xinhua) China is set to unveil its own jumbo jet manufacturing company here Sunday, marking a crucial stage for the country's research and development of giant passenger planes.

The new company, China Commercial Aircraft Co, will have a registered capital of 19 billion yuan (about $2.7 billion), with the central government and the Shanghai government among the major shareholders, sources close to the project said.

Shareholders of the new company will also include China Aviation Industry Corp I (AVIC I) and China Aviation Industry Corp II (AVIC II), the country's large and small plane manufacturers respectively.

It is widely believed that Zhang Qingwei, minister of the State Commission of Science, Technology and Industry for National Defence, would be the company's board chairman.

The State Council, China's cabinet, approved the setting up of the giant-passenger plane company in February 2007.

This will make the country capable of building aircraft with a take-off weight of more than 100 tonnes or planes with more than 150 seats.

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Comments on this story

By fish, 05-12-08, 03:12 AM

Time will tell

When the planes go down in flames, so will China’s reputation, but it will be too late by then. Better be safe than be sorry. The proof of the plane is in the flying. This is China’s decision today for its tomorrow.

By ChineseJew, 05-11-08, 10:09 PM

Quality control for a state run company is not a problem. China is flying spacecraft to the moon at low cost. China is sending satellites into space for different countries at low cost. All the inferior products reported by the media were produced by suspicious companies out to make a quick buck.

By fish, 05-11-08, 01:52 PM

good & bad news, depending on the 'sustainable' performance of the end-product

Chances are the planes will be built with perfect precision and be on time, but if they cut corners and use cheap materials, the end products will suffer the same fate as the other cheap Chinese products. And this time the planes will be taking more people down with them, literally down. Cheap in price is good, but cheap in quality will cause a global nightmare. Hopefully this is not a case of 'penny wise, pound foolish'. This is a decision for the company to make.

By ChineseJew, 05-11-08, 09:53 AM