China Aviation Industry Corporation (AVIC) plans to invest in an industrial park in northeast China.
The state-owned aerospace conglomerate has signed a co-operation agreement with northeast China's Jilin provincial government to jointly build and develop an aviation technology park, confirms an AVIC spokesman. He was responding to news reports quoting from AVIC's head Lin Zuoming.
The park will cost 10 billion yuan ($1.5 billion) and will be called the Changchun National High-technology Industry Development Area, say the reports.
Several provincial governments throughout China have been establishing aerospace industrial parks in an effort to attract investment.