Leading aircraft corporations need a highly complex supply chain. They simply act as a host, surrounded by an army of suppliers that make an array of components, such as engines, landing gear, seats and control panels.
"As the C919 has already made its maiden flight, the next step for COMAC is to increase the localization rate of homemade aircraft components, which will enable more domestic suppliers to produce the parts," Lin said.
"But most producers don't have enough money for their R&D work. With the support of the fund, domestic suppliers can bring in more advanced technology from abroad through investments, and mergers and acquisitions," Lin added. "This will in effect help domestic companies to grow faster and produce more competitive products."
Sales of the C919 will keep COMAC's suppliers busy. Total orders have reached 600 for the aircraft from 24 Chinese and overseas clients.
Back in June, Everbright Financial Leasing Co Ltd, a subsidiary of China Everbright Bank Co Ltd, became the latest group to join the C919 line when they ordered 30 planes.
At the time, Zhang Jinliang, president of China Everbright Bank Co Ltd, stressed that R&D in large commercial aircraft in the country had become crucial to meet surging demand for domestic and international passenger jets.
"Everbright Financial Leasing has been paying close attention to the research and development of the C919 aircraft," Zhang said. "Its successful maiden flight on May 5 has been a milestone in the history of China's aviation industry.
"We will support the development of homegrown commercial aircraft, and contribute to the growth of domestic aircraft manufacturing," he added. "In the future, we plan to launch further and deeper cooperation with COMAC."
