Can all the people in the world just imagine what if a Government entering into the Business…
Europe’s Airbus and Chicago-based rival Boeing dominate the market for commercial airplanes carrying 100 or more people.
Now it is the First Time a Major Stake Holder in a Aviation Industry is the Chinese Government.
The Chinese central government and the Shanghai government are among the major shareholders, of the China’s two main aircraft manufacturing and servicing companies — China Aviation Industry Corp. I and China Aviation Industry Corp. II.
By 2026 China’s domestic market will increase fivefold as per the calculations done by a media network.
According to a government Press release on Sunday, China has established a homegrown company to make passenger jumbo jets — a step forward in the country’s quest to become less dependent on Boeing and Airbus.