Breaking news
China founds AECC state-owned aircraft engine maker.
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World Aviation Defense & Security News - China
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China founds AECC state-owned aircraft engine maker
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China established yesterday the state-owend company Aero Engine Corporation of China (AECC) on Sunday. Founded in Beijing, the AECC received investment from the State Council, the Beijing Municipal Government, Aviation Industry Corporation of China (AVIC) and Commercial Aircraft Corporation of China, with registered capital of 50 billion yuan (7.5 billion U.S. dollars).
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 China's WS-10 military aircraft engine |
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Establishment of the AECC is a strategic move that will improve the aviation industry and boost modernization of the military, Chinese President Xi Jinping said in a written instruction that was read at the company's founding ceremony. The company already boasts 96,000 employees.
Premier Li Keqiang said in his written instruction that aircraft engines are sophisticated products of the equipment manufacturing industry.Breakthroughs in this area will have great value for improving China's economic and military power and national strength. Despite China having made tremendous achievements in the science, technology and manufacturing industries, aircraft engines remain one of the few fields in which the country still lags behind top players. China will launch at least 100 key projects over the next 15 years to increase the country's technological capability and improve people's livelihoods, according to the 13th Five-Year Plan unveiled earlier this year. Aviation engines and gas turbines were listed among the top 10 of the 100 projects. |
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