China establishes company to make its own jumbo jets

BEIJING — China has established a homegrown company to make passenger jumbo jets, state media reported Sunday _ a step forward in the country's quest to become less dependent on Boeing and Airbus.

China Commercial Aircraft Co. was established in Shanghai with registered capital of 19 billion yuan $2.7 billion, the official Xinhua News Agency said.

It said the central government and the… » Full Story on Huffington Post