COMAC to set up a US$1.59 billion aircraft industry fund

Commercial Aircraft Corporation of China (COMAC) plans to set up a CNY10 billion (US$1.59 billion) aircraft industry fund in 2018 to help increase the development of large aircraft in the country.

Participants in the funds will be expected to provide supporting products and components to COMAC.

COMAC also aims to increase its share capital in 2018, following recent issue of medium-term notes and CNY3 billion corporate bonds.