Industry Background

According to the recent statistics, China is prone to be the biggest economic entity by 2020. And as one of the major impetuses of the economic growth, aviation industry is acknowledged to be of great importance for future development. One industrial forecast done by Commercial Aviation Corporation of China, Ltd. (hereinafter referred to as COMAC) showed that 5357 more aeroplanes were recognised as the minimum amount to meet the basic transportation demand in next 20 years. Nonetheless both Boeing and Airbus see China as one of the major aviation markets in the future, symbolising a strong inclination of the global development towards China market. Therefore it is quite clear that the industrial prospect of domestic aviation-related industries is more than satisfying.

On the contrary, the current situation of domestic market remains quite underdeveloped. The domestic aviation manufacturing industry still lags behind some developing countries like Brazil, let alone the Western World. The entire product line is still incomplete and the products are of low competitiveness. Moreover, infrastructure and laggard regulations are widely reviled for obstructing the industrial growth.

Therefore because of these, aviation industry is strongly supported by Chinese government nowadays. Prioritised funding supports has been given to accelerate the industrial growth. Foreign investments are strongly encouraged through partnership with Chinese counterparts. The steady supports from government side serve as the guarantee for the promise.