China to invest over RMB 30 bln on R&D of large aircrafts

China has started the preliminary research of its large aircraft project, and a total of RMB 30-50 billion has been invested in the research work, a senior official from China Aviation Industry Corporation I (AVIC I) revealed yesterday.

"Compared to Airbus' over EUR 20 billion R&D cost, our budget seems much less," said the official. The research work is expected to be finished in 10 years and the commercial production of such large aircrafts may take another 20 years.

Earlier reports said a joint venture of large aircrafts will be set up Shanghai this month. The major investors are State-owned Assets Supervision and Administration Commission, AVIC I, AVIC II and Baosteel.

Sources also disclosed that the parts of the aircrafts will be produced in Shenyang, Xi'an, Chengdu and the whole aircrafts will be assembled in Shanghai.

Large aircrafts refers to planes with the take-off weight of over 100 tons, or with over 150 seats. At present, only the U.S., Russia, and four countries in Europe have the capability to manufacture such aircrafts.