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).
