China's aero-engine industry is reportedly gearing up for consolidation as part of efforts to bridge long-standing capability gaps. Citing unidentified sources, a report by Bloomberg on 19 January said the government plans to merge more than 40 aero-engine entities into a corporation holding assets worth CNY145 billion (USD22 billion). According to the report, the Chinese government and enterprises including the state-owned Aviation Industry Corporation of China (AVIC) will invest an additional CNY35 billion into the aero-engine corporation.
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