Loading

Chinese aircraft maker AVIC I sets up finance unit

Beijing (XFN-ASIA) - China Aviation Industry Corp I (AVIC I),

the country's biggest aircraft maker, has set up a finance unit with a registered

capital of 1 bln yuan to fund its development, the official Xinhua news agency

reported.

The new finance company combines the financing units of AVIC I's subsidiaries, Xi'an Aircraft Industry Co Ltd and Guizhou

Aviation Industry Co Ltd, and it would be funded by AVIC I and its 11 subsidiaries, Xinhua said.

No further details were provided.