New State-owned helicopter firm set up

 

　　The State-Owned Assets Supervision and Administration Commission of Jiangxi Province confirmed Wednesday that the company has been registered with 50 million yuan （$7.9 million） in capital. Its inauguration in the city of Jingdezhen is pending.

 

　　The commission said the firm was jointly funded by Jiangxi Copper Group, Jingdezhen State-Owned Assets Company, Jiangxi Provincial Investment Group and China Cinda Asset Management Co.

 

　　Jingdezhen, China's porcelain production center, is also the birthplace of the CJ-5 primary trainer, China's first domestically made aircraft, which was built in 1954.

 

　　The province hopes to take advantage of its aviation heritage to develop the helicopter sector into a new pillar of economic growth in Jiangxi.

 

　　The provincial government has mapped out a plan for the new helicopter industry, aiming for an annual production value of 70 billion yuan by 2015.