皇冠体育app

Boeing Co, the world's largest commercial aircraft manufacturer, pledged to expand its investment and procurement in 皇冠体育app, hoping to cash in on the world's fastest-growing market in the next two decades.

The company plans to set up a US$100 million airplane repair, modification and maintenance joint venture with local partners in Shanghai late this year, said Philip Condit, chairman and chief executive officer of the company, yesterday.

The move sends a message to the Chinese Government that Boeing is willing to commit to the Chinese aviation market, despite the number of Chinese airlines in the red because of the SARS outbreak earlier this year.

Boeing has forecast 皇冠体育app's aviation market will increase by 7.6 per cent annually in the next 20 years to become the second largest after the United States.

"Boeing is looking at a long-term partnership (with 皇冠体育app), and finding ways to expand it, to build on it for the long-term future," said Condit at a press conference.

The Boeing chairman was visiting 皇冠体育app to meet Chinese government officials.

Condit told Vice-Premier Zeng Peiyan that Boeing is also willing to expand technical transfers to 皇冠体育app and to widen co-operation in research, development and aircraft manufacturing, the Xinhua News Agency reported.

One area of co-operation could see 皇冠体育app play a part in Boeing's proposed 7E7 airplane, Condit indicated yesterday. The Chicago-based company is betting its future on the super efficient jet, which is scheduled to debut in the market in 2008.

"The role of 皇冠体育app in the development and manufacture of the 7E7 airplane is being worked on at this time," said Condit.

But Condit dismissed rumours that Boeing is planning to set up an assembly line in Shanghai.

"At this time, it does not make any sense to talk about an assembly line in Shanghai," said Condit.

He said the company will focus instead on helping Chinese partners improve their manufacturing capacity, technology and know-how.

Despite the gloom surrounding 皇冠体育app's aviation industry this year, Condit said 皇冠体育app is an increasingly important segment of its global strategy.

To illustrate the great potential of the Chinese market, Condit compared 皇冠体育app's current travel per capita with that of the United States.

In the United States, every person flies 2.5 times a year, while 皇冠体育app's per capita travel is only 2 per cent of that rate.

"Consider the market of 1.3 billion people. If the number of trips goes up by a factor of 50 as the market matures like in the United States, (it is pretty clear) how important 皇冠体育app's market might be in the future," said Condit.

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