AVIC launches aviation industrial park in Beijing

Jul. 30, 2009 (China Knowledge) - State-owned Aviation Industry Corp of China, the country's leading aviation manufacturer, Wednesday began construction on an aviation industrial park in Beijing, the Shanghai Securities News reported.

The 1.6-million square meter industrial park will be built in two phases, the first of which will involve an investment of RMB 10 billion. The finished park will generate sales revenue of RMB 18 billion annually and create more than 5,000 jobs.

Companies that develop engines, composite materials and airborne systems will move into the industrial park and will participate in the country's first home-grown jumbo jet project.

Lin Zuoming, general manager of AVIC, said that the industrial park will become a key base for developing aviation technologies in China and a major driving force in Beijing's economy.

On the same day, AVIC also launched an RMB 9-billion base in the park to develop aviation engine.