CHINESE AVIATION PITCH SALES IN SINGAPORE
China’s state-run aerospace enterprises began a stronger-than-expected display at the biennial Singapore Airshow that opened Tuesday. China has set an ambitious goal for its aerospace industry to command the second-largest share of the aviation market within the next two decades.
In 2009, the Communist Party Central Committee decided to order China’s state-owned banks to come up with more than $50 billion for an investment consortium specifically for financing state-run aviation enterprises.
A little more than a year later, one such enterprise, China Aviation Industry Corp, bought the Minnesota-based Cirrus Aircraft, the world’s second-largest manufacturer of single-engine general aviation aircraft, after Cessna, for a reported $210 million.
On display at the Chinese pavilion in Singapore’s Changi Airport are China’s JF-17 Thunder fighter, L-15 Falcon trainer, and Yilong UAV, major Chinese aerospace enterprises including the China National Aero-Technology Import and Export Corp., the Commercial Aircraft Corp of China, AMECO Beijing and the Beijing Youtaishuncheng Technology Co.
However the much-anticipated Chinese C919, China’s answer to Airbus A320neo and the Boeing 737MAX, failed to show up. But the Straits Times, a Singapore newspaper, has reported that C919 will be on display at the 2014 airshow.
The exhibit at Singapore is one of the three major airshows in the world. The other two are regularly held in Paris and Farnborough, England.
• Miles Yu’s column appears Thursdays. He can be reached at email@example.com.