China's Aero Engine Corporation secures credit for expansion drive

03 January 2017

The Aero Engine Corporation of China (AECC) - the country's newest defence industrial enterprise - has entered a finance agreement with the China Development Bank (CDB) to gain access to credit to support industrial expansion, it has been announced.

In a statement on 30 December, the State Administration for Science, Technology and Industry for National Defense (SASTIND) - the Chinese government body responsible for defence industrial development - said the deal would cover a range of activities undertaken by AECC as it seeks to become a major aero-engine manufacturer.

These include major AECC research and development projects, infrastructure development, civil-military integration programmes, as well as manufacturing activities, said SASTIND.

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