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| Inside a General Electric J85-GE-17A turbojet engine (Image: Wiki Commons) |
BEIJING, Aug. 29 (Xinhua) -- Shares in the aviation and military sectors on China's Shanghai and Shenzhen bourses opened higher on Monday, buoyed by the establishment of the Aero Engine Corporation of China (AECC) on Sunday.
Founded in Beijing, the AECC received investment from the State Council, the Beijing Municipal Government, Aviation Industry Corporation of China (AVIC) and Commercial Aircraft Corporation of China, with registered capital of 50 billion yuan (7.5 billion U.S. dollars).
Nearly all aviation technology-related subsidiaries of AVIC opened higher on Monday.
The Shanghai-listed AVIC subsidiary China Avionics Systems Co., Ltd. opened at 20.71 yuan, up 1.84 percent from the previous close. Baosheng Science and Technology Innovation Co., Ltd. opened 0.62 percent higher at 8.13 yuan.
Shares of the Shenzhen-listed AVIC Aircraft Co., Ltd. opened at 23.81 yuan, up 2.31 percent from the previous trading day. AVIC Electromechanical System Co., Ltd. opened 2.44 percent higher at 16.46 yuan.
Read the full story at Xinhua