China Aviation Industry Corp. Group, the result of the merger of AVIC I and AVIC II, was launched in November and will be responsible for the production of China's large commercial aircraft. CAIC has since signed an agreement with Shanghai's municipal government to establish a commercial aero engine company of which CAIC is the controlling stakeholder of the new venture, which is expected to launch in six months. The engine company will include privately run companies as shareholders, and … [Read more...] about New engine company for consolidated China Aviation