China launches state-owned aircraft engine maker: State media


China has set up a state-owned aircraft engine maker with registered capital of 50 billion yuan ($7.50 billion), state television said on Sunday, in the latest bid to develop home-grown, high-tech capacities to compete in international markets.

The government has been overhauling its state-owned sector to push Chinese products and services up the value chain. Under that drive, it has prioritised aircraft engines, high-speed rail and nuclear power as areas it wants China to excel in. China's Cabinet, Beijing municipal government,.....

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