Will China’s New Jet Manufacturer Solve Its Military Tech Gap?

In its latest move in the push to develop functioning jet engines, China has just set up a new state-run company with a mission to consolidate the efforts of past manufacturers. The new firm, called the Aero-Engine Group of China (AEGC), is sponsored by the central government, Beijing authorities, and two existing state-run aerospace companies, Reuters reported on Aug. 28. AEGC was formed with 50 billion yuan (about $7.5 billion) in starting capital.

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