(Yicai Global) May 21 -- US China Capital Inc. and Guangdong Province Port Economic Development (Shenzhen) Co., as well as representatives from two other companies, signed a cooperation agreement in the field of general aviation, China Securities Journal reported, which will pave the way for China's technology hub to also turn into a major aircraft manufacturing and maintenance center.
Guangdong Province Port Economic Development (Shenzhen) Co. will take the lead to adopt the development model of the Swiss Aviation Club and set up the Shenzhen Aviation Club, build aircraft manufacturing plants and aviation towns in Shenzhen, and develop aviation industries and businesses such as aircraft manufacturing, leasing, training and maintenance, said Sun Xiaoqi, chief executive officer of the provincial port company.
"The deal is anticipated to lead to the development of aviation manufacturing factories in Shenzhen," said state-run English-language Global Times, "The agreement also includes pledges to pursue civil-military integration and aid the development of the aviation industry in the area."
The state-owned port company has actively participated in the development and construction of marine economic zone, which integrates national defense, marine ecological cities and marine high-tech technologies, helping the economic development of the Guangdong – Hong Kong – Macau Greater Bay Area, Sun said.
US China Capital Inc. focuses on capital markets, as well as businesses operating in equipment manufacturing, financial services, energy and minerals.
The company has maintained close cooperation with well-known general aviation companies in the US, the European Union, Russia, and Ukraine, and established two helicopter production bases in Erdos, the northern Inner Mongolia province, in 2012 and Yuxi in southwestern China's Yunnan Province in 2016. The company has acquired the Laishikang 11-A and 11-E aircraft production lines of JGS Properties Ltd. in the end of last year, gearing up for large-scale production in the Chinese mainland.
Editor: Mevlut Katik