The Aviation Industry of China (AVIC) secured record exports of CNY96.7 billion (USD14.1 billion) in 2017, equal to 24% of its total revenues during the year, the state-owned corporation has revealed.
AVIC said in a statement on 17 September that its export success is closely linked to its expanding profile in target markets. The group said that it has now established 65 overseas facilities in 28 countries that are regarded by the Chinese government as key to its One Belt One Road (OBOR) economic development programme.
The new figures indicate strong international growth for the Chinese corporation. AVIC does not routinely disclose the value of its exports but has done so on two other occasions in recent years.
In 2011 AVIC said its overseas revenue was CNY43.1 billion and by 2015 its exports had grown to CNY75.3 billion. The new figure revealed by AVIC represents a 27% increase over exports secured in 2015. AVIC’s total revenues in 2017 were CNY403.5 billion.
In its statement, AVIC said its international business mainly comprises military and commercial aircraft sales, the development of aircraft infrastructure, ground-based aircraft-support operations and services, capital operations, and aircraft security products and services.
Luo Ronghuai, AVIC’s president, said in comments published by the corporation that AVIC is looking to deepen its engagement with OBOR countries by expanding industrial collaboration with customers and developing an aviation industry supply chain across OBOR regions.
He added that in building its business in such countries AVIC will look to develop alliances with aviation and non-aviation manufacturers and financial enterprises.
In terms of military aircraft sales, AVIC’s most popular products in recent years have been its JF-17 Thunder fighter aircraft, K-8 Karakorum-8 basic trainer, L-15 advanced jet trainer, Wing Loong I and II combat unmanned aerial vehicles, MA60 transport, Y-8 transport, and Y-12 light transport aircraft.
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