China sets up new SOE to develop aircraft engine

Updated: 2016-07-13 16:37


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BEIJING - China set up a new state-owned enterprise (SOE) specializing in developing aircraft engines, the country's top SOE regulator announced Wednesday.

The State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) will provide capital for the new company, according to a statement from SASAC.

Aircraft engine is among the major science and technology projects listed in China's 13th Five-year plan (2016-2020).