China's first commercial big jet company takes off

China's 1st commercial super-jumbo jet company has just been launched in Shanghai.

The company has 19-million in registered capital and will be responsible for developing, making and marketing the first made-in-China jumbo jet.

The State-owned Assets Supervision and Administration Commission will be the biggest share holder with 6 million yuan. The second largest stake holder is a conglomerate between the Shanghai Municipal Government, Avic I and Avic II. The firm will build planes with a take-off weight of more than 100 tons, or planes with more than 150 seats.