" Under its initiative to overhaul the state-owned sector, the Chinese Government has prioritised its involvement in aircraft engines, high-speed rail and nuclear power, reported Xinhua. The Chinese government has launched is own state - owned aircraft engine maker called China Aero - Engine Group so as to develop native aerospace technologies , starting with a $ 7.5bn investment and 300 employees . This puts it in direct competition with General Electric 's second - largest business and most profitable division , GE Aviation . The company was created out of the merger of Chinese state - owned AVIC 's aircraft - engine businesses and is part of China 's plan to move into higher - tech manufacturing and reduce imports .
The Chinese government has launched is own state - owned aircraft engine maker called China Aero - Engine Group so as to develop native aerospace technologies , starting with a $ 7.5bn investment and 300 employees . This puts it in direct competition with General Electric 's second - largest business and most profitable division , GE Aviation . The company was created out of the merger of Chinese state - owned AVIC 's aircraft - engine businesses and is part of China 's plan to move into higher - tech manufacturing and reduce imports .