China Aviation Industry Corporation (AVIC) was officially established based on reorganization and integration of China Aviation Industry Corporation I (AVIC I) and China Aviation Industry Corporation II (AVIC II) on November 8, according to Tan Ruisong, vice president of AVIC.
With a registered capital of 64 billion yuan, AVIC will specialize in the manufacture of large aircraft.
Tan said the company aims at reaching a new high of 1 trillion yuan of economic scale in 2017, making China an aviation industry power.
At present, AVIC not only produces military aviation weapons, but also develops military and civil freighter industry. It has researched, developed and manufactured various types of aircraft, including Xinzhou-series turboprop aircraft, Y-8 planes, Y-12 planes and Z-9 helicopters.
By People's Daily Online
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