Center

Planes set for int'l market push

By Lu Haoting (China Daily)
Updated: 2007-02-01 10:08

"We got off to a good start at the beginning of the11th Five-Year Plan(2006-10), with several key figures breaking company records," Huang said.

Its export volumes skyrocketed 50 percent from 2005 to $1.5 billion last year, with total sales rising 30 percent to exceed 18 billion yuan.

CATIC also plans to speed up its process of attracting strategic investors this year, Huang said.

CATIC was founded in 1979 and is jointly owned by China Aviation Industry Corporation I andChina Aviation Industry Corporation II, the country's two leading aviation firms, with each holding 50 percent stakes.

But the company wants to attract new investment to "improve management and speed up the healthy development of the company".

It plans to introduce one or two strategic investors that are domestic companies with a "strong financial background and resources".

Another part of the company's restructuring plan is to list CATIC as a whole. CATIC has more than 10 regional subsidiaries around China. It owns threeHong Kong-listed companies and three domestically listed firms.