AviChina Industry, Technology Company Set up in Beijing

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Last updated at: (Beijing Time) Monday, May 19, 2003

AviChina Industry, Technology Company Set up in Beijing

The AviChina Industry and Technology Company (AviChina) was established in Beijing on Sunday.

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The AviChina Industry and Technology Company (AviChina) was established in Beijing on Sunday.

The company will focus on two scopes of business including the research and manufacture of aviation and automobile products.

With international cooperation and independent development, it would further develop civilian-use helicopters, economy sedans, multi-use vehicles and compact cars, said Zhang Yanzhong, chairmanof AviChina.

The overall volume of shares of the new company totals over 3.1 billion yuan (374 million US dollars), with China Aviation Industry Corporation II owning 95.66 percent.

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