Very impressive.
It would be a HUGE Risk.... Since making an airplane is not a child's play, and its much more advance than making a Car, which China has just learned to do. True they might have some Military aircrafts, but making a Viable Commercial Jetliner, is a whole different Ball game.
Lets suppose they overcome the technical barriers to manufacture this aircraft. Who would they sell it to. Yes, the local Chinese market is huge, but they are also not Gamblers.
But in our world.. Its the rist takers that are Awarded most. Provided its a calculated risk and Chinese are known to have good business acumen to analyze risks and their potential pitfalls before venturing into a mega project.
Lets hope they come up with a viable Aircraft, and that too which sells like a CHERY. With all the bells and whistles and COPIED Design, at the fraction of the cost of the Original product...
That would be a windfall for the 3rd world countries, like our beloved country, which desparately needs New Aircrafts at a reasonable price..
But, this whole deal of Chinese Commercial Aircraft may be DECADES away.. if not then atleast 10 years at best to materialize.
This project has best hopes if the Chinese Government gets involved personally, which the article suggest that it does. I just learned recently that Chinese Gov't has
$1,000,000,000,000 THATS ONE TRILLION DOLLARS in foreign Exchange.. and it is trying to figure out ways to SPEND it. Imagine having that much CASH in your hand and DON'T know what to do with it. Some Impressive Investment Firms like J.P. Morgan Stanley, Dean Witter, Smith Barney, etc. have sent their Financial Planning Executive to advise the Chinese Government on how to allocate that CASH. Mainly in Foreign Securities like US. US government gets alot of Foreign Equities and Bonds
since, they are the SAFEST investments in the world.. Meaning the ONLY way you can loose your cash is if US government is toppled and the Country plunges into CHAOS. Theoretically, the US government is considered to be the Strongest and hence investing in US government backed securities is the safest bet.
Japan, Saudi, many European Countries have already purchased US government securities and bonds, yielding only about 4% to 5% return.. But if you are talking about Hundreds of Billions of dollars, those minor basis points can add up sharply.
So.. The bottom line.. I de-tracked here, is that Chinese Gov't has got a TRILLION DOLLAR Kitty now, and it might as well spend it on making a CHINESE AVIATION INDUSTRY... Which can in turn bring in huge profit as well.
Smart Move..
Looking forward to
CHERY C-300 AIRCRAFT