China plans to merge more than 40 entities working on plane engines into a group with 145 billion yuan ($22 billion) in assets as part of a broader push into advanced industries that can propel growth in the world’s second-largest economy, people familiar with the proposal said.This is a sign that the Chinese are making its move to equal and then surpass the West in fighter engine design.
The entities have combined assets of about 110 billion yuan, the people said, asking not to be identified because the discussions are private. The Chinese government and companies including Aviation Industry Corp. of China, known as AVIC, will invest an additional 35 billion yuan, they said.
China is eager to develop its own engine to power its planes, and is also keen to push its economy from labor-intensive work into more sophisticated sectors. The Made in China 2025 blueprint, released last March, cited aerospace as one sector the leadership hopes will help make China into an advanced economy along the lines of Japan and Germany.
Considering all the information they've stolen through hacking, do you really believe that we will maintain our lead for long?