[photopress:aircraft_manufactuing_company.jpg,full,alignright]Shanghai Securities News reports that four Shanghai state-owned enterprises may merge to take part in China’s massive big plane project.
Shanghai is expected to establish a ‘financial and industrial operation platform’ by coordinating the resources and assets of Shanghai International Group, Shanghai State-owned Assets Cooperation Co Ltd, Shanghai Dasheng Holdings Co Ltd and Shanghai Dragon Investment Co Ltd.
It may be that Shanghai Dasheng Holdings and Shanghai Dragon Investment will merge to form a new assets company called ‘Guosheng.’
The State Council approved the homemade big plane project in principle on March 18. The aim is to design and build a large commercial aircraft with Chinese-developed intellectual property to compete with Airbus and Boeing.
(This should be seen in context. The end result will be an aircraft to challenge, say, the Boeing 747 but it will contain a substantial amount of overseas components. Say something like 40% in the initial stages.)
Zhang Yunchuan, chief of the Commission of Science Technology and Industry for National Defense, has already said the country will finish developing the prototype of the big plane in 10 years and that Shanghai is likely to become the assembly base of the project.
Creating its own big planes is one of the priorities of China’s long-term scientific and technological development strategy.
Source: Shanghai Daily