The China Aviation Industry Corporation (AVIC) completed more than 30 national research projects last year and achieved remarkable progress in civil aircraft production and other aviation areas.

AVIC reaped revenue of 57.2 billion yuan (7 billion US dollars) in 2004, up 28 percent compared with the previous year. Approximately 1.4 billion yuan (0.17 billion US dollars) profit was achieved, up 32 percent compared with the previous year, a record since the corporation was established five years ago.

Two regional jets developed by AVIC were sold to Zimbabwe last November, the first time China's planes have been exported. An agreement for 20 additional commercial jets was signed in December, said Liu Gaozhuo, general manager of AVIC.

The export and trade volume of AVIC in 2004 reached 1.15 billion US dollars. The aviation sub-contractor program also achieved progress last year with the delivery volume reaching 0.17 billion US dollars.

Source: Xinhua