CHINA unveiled its own jumbo jet maker in Shanghai yesterday — a step forward in the country’s quest to become less dependent on Boeing and Airbus.

Commercial Aircraft Corporation of China Ltd. (CACC), a major part of the nation’s large jet program, was established in Shanghai with registered capital of 19 billion yuan (US$2.7 billion).

Vice Premier Zhang Dejiang said at the inauguration ceremony that the program was of significance in improving China’s independent innovation capabilities and meeting the rapidly expanding civil aviation market at home.

The new company will be responsible for researching, developing, manufacturing and marketing large passenger aircraft. The government has invested 6 billion yuan, becoming its largest shareholder.

The other shareholders are China Aviation Industry Corporation I (AVIC I), the country’s largest aircraft producer, and China Aviation Industry Corporation II (AVIC II).

Europe’s Airbus has forecast that China’s domestic market will increase fivefold by 2026. Airbus and Chicago-based rival Boeing dominate the market for commercial airplanes carrying 100 or more people.

The China company will be able to make planes with more than 150 seats.

Its general manager Jin Zhuanglong said that it was too early to say when a Chinese-developed jumbo jet would take off, as it would take a long time to develop homegrown talent and do research.

“According to the development history of Airbus and Boeing, the development and success of civil planes cannot be realized by relying on one or two generations,” he said.

The aircraft will be assembled in Shanghai, with the nose, fuselage and tail sections to be manufactured in other parts of the country by companies controlled by AVIC I and AVIC II, according to earlier reports.(SD-Agencies)