China sets up new SOE to develop aircraft engine

By：Xinhua Update：2016-07-14

BEIJING, July 13 -- China set up a new state-owned enterprise (SOE) specializing in developing aircraft engines, the country's top SOE regulator announced Wednesday.

The State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) will provide capital for the new company, according to a statement from SASAC.

Aircraft engine is among the major science and technology projects listed in China's 13th Five-year plan (2016-2020).