03:58 GMT06 May 2021
Listen Live
    Business
    Get short URL
    4194
    Subscribe

    China is setting up a conglomerate that will merge three aircraft engine manufacturers, local media reported Thursday.

    BEIJING (Sputnik) — According to the Xinhua news agency, the conglomerate will include Sichuan Chengfa Aero Science & Technology Co., Avic Aviation Engine Corp. and Avic Aero-Engine Controls Co.

    Authorities have already appointed the conglomerate management, however, their names have not been disclosed.

    According to the media, the merger of the three already major players is expected to strengthen position of China — one of the world's biggest aviation markets — in the sphere of aircraft development and production.

    Related:

    Flourishing Business: Russian Street to be Set Up in Chinese City
    Russian Business Cluster May Appear in Chinese Border City in 2016
    Chinese Economy Slowdown Makes Business Go Global
    Tags:
    aircraft, Avic Aviation Engine Corp, Sichuan Chengfa Aero Science & Technology Co, Avic Aero-Engine Controls Co, China
    Community standardsDiscussion