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Friday, March 01, 2013

China allocates $ 16 billion for new jet engines

J-15 Flying Shark |Stuck with heavy dependence on Russian components for its new generation of fighter aircraft,China has allocated USD 16 billion to fund an R&D project for developing new jet engines.

China will invest at least 100 billion yuan (USD 16 billion) in a national research and development project for aircraft engines, state-run China Daily reported today.

The investment will mainly be used for research on technology, designs and materials related to the development and manufacturing of aircraft engines.

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