Tuesday May 13 2008
All times are Beijing time
All times are Beijing time
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China aircraft makers sharply higher on new large-plane co launch
Published: May 13, 2008
Aerospace stocks rose sharply on the A-share market after the launch Sunday of a state-owned manufacturer of large jets, the Commercial Aircraft Corp of China (CACC), dealers said.
Hafei Aviation Industry Co Ltd rose by the 10 pct daily limit to 19.51 yuan, while Xi'an Aircraft International Corp jumped 6.40 pct to 25.94 yuan. Hubei Aviation Precision Machinery Technology Co Ltd was up 7.62 pct to 14.68.
Hafei Aviation Industry is a unit of China Aviation Industry Corp II (AVIC II), while Xi'an Aircraft International and Hubei Aviation Precision Machinery Technology are controlled by AVIC I. AVIC I and AVIC II are among CACC's seven shareholders.
China's large-jet project, expected to enter the market by 2020, will have final assembly operations in Shanghai, while components will be manufactured in other parts of the country by companies controlled by AVIC I and AVIC II.
China launched its first jumbo jet company in Shanghai on May 11, with the aim of developing it into a globally competitive aircraft manufacturer. The company, named Commercial Aircraft Corporation of China Ltd (CACC), will be responsible for researching, developing, manufacturing and marketing the made-in-China large passenger aircraft.
Mr. Yang Yuanyuan, former Minister of CAAC , was there at Aviation Expo/China 2007 with us
Mr. Gao Hongfeng, Vice Minister of CAAC, was there at Air Show China 2002 with us
Mr. Yang Guoqing, Vice Minister of CAAC, was there at Aviation Expo/China 2005 with us | Video
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