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It seems China is merging its aero engine companies into one state-owned firm. The new AECC is formed from a merger of AVIC Aviation Engine Corp., Sichuan Chengfa Aero-Science & Technology Co. and AVIC Aero-Engine Controls Co. Presumably its hoped with this critical mass of resources they can launch a series of commercial and military jet engines to rival those of the West, at least to become self-sufficient at home. Somehow I doubt that's likely in the medium-term.
http://www.wsj.com/articles/china-establishes-new-state-owned-aircraft-engine-maker-1472397621
[May be behind paywall]
http://www.bbc.co.uk/news/business-37212009
http://www.wsj.com/articles/china-establishes-new-state-owned-aircraft-engine-maker-1472397621
[May be behind paywall]
http://www.bbc.co.uk/news/business-37212009