AVIC, the Aviation Industry Corp of China, has just formed a joint venture with General Electric and is now in cooperation talks with other leading aircraft engine makers.
Lin Zuoming, AVIC’s president, declined to name the firms, citing non-disclosure agreements but said, "Going it alone won’t work and is not in line with the global trend. To be part of the global aviation industry is one of our key strategies."
AVIC signed a preliminary agreement with GE to form an avionics joint venture to target China’s booming commercial aircraft market.
The initial focus of the venture will be to develop equipment for China’s planned C919 passenger jet, which will have at least 150 seats.
Bloomberg reported that, according to Lin Zuoming, China would be "totally open" to foreign capital and expertise, and would not be protectionist in developing the C919.