Aeronautics industry to get major boost

$16b investment aimed at bringing domestic aircraft engines up to speed

China will invest at least 100 billion yuan ($16 billion) in a national research and development project for aircraft engines, according to aviation industry sources.

The State Council is considering a proposal and is likely to approve it in the near future, China Securities Journal quoted an unnamed professor at Beijing University of Aeronautics and Astronautics with knowledge of the project as saying.