The Chinese government has formally launched an aero-engine company in an effort to design and build engines to power Chinese-built aircraft. The new entity—China Aviation Engine Group—has a registered capital of CNY50 billion ($7.62 billion). Its stakeholders include Chinese aerospace firm AVIC International Holding Corp. (AVIC), Commercial Aircraft Corp. of China (COMAC), Beijing State-owned Assets Administration Center, and the state-owned Assets Supervision and ...

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