- CNTV English - CCTV News

China's first aviation industry fund opened

07-08-2010 09:09 BJT

Watch Video

Play Video

China's aviation industry is welcoming private capital into a newly established fund, in order to allow the sector to become more market oriented. China Construction Bank and the Aviation Industry Corporation of China opened the fund in Tianjin this week, to boost development.

The China Aviation Industry Fund will be managed by the Yufeng Fund Management company. It's composed of subsidiaries of the Aviation Industry Corporation, or AVIC, and China Construction Bank.

The fund hopes to raise up to 5 billion yuan in its initial stage. The long term target is 20 billion yuan, making it China's biggest industry fund.

China's aviation industry is welcoming private capital into a newly established fund, in order to allow the sector to become more market oriented.
China's aviation industry is welcoming private capital into a newly established 
fund, in order to allow the sector to become more market oriented.

The company says it welcomes private capital, as it helps to make the state run industry more market oriented.

Wei Xiaolong, Deputy General Manager of AVIC Capital said "We welcome private funds to enter the industry. It will help marketize the aviation industry."

The aviation fund will be used for national defense research and the development of dual-use technologies.

It's also likely that private funds will help manufacture China's large aircraft in the future.

Wei Xiaolong said "We are still investigating how to invest in the large aircraft industry. But we will definitely put money into this area."

The China Aviation Industry Fund is China Construction Bank's third industry fund. The lender also plans to establish a culture industry fund and mining fund this year.

Editor:Xiong Qu |Source:

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program