A joint venture created by the Commercial Aircraft Corporation of China (COMAC) and Russia's United Aircraft Corporation (UAC) was launched in Shanghai on Sunday.
The new company, China-Russia Commercial Aircraft International Co. (CRAIC), was launched for the two countries to jointly build wide-bodied passenger planes.
This cooperation is based on a contract signed in June, 2016 witnessed by Chinese President Xi Jinping and Russian President Vladimir Putin during Putin's visit to Beijing.
According to a COMAC press release, the project will produce a 280-seat long-haul plane with a range of 12,000 kilometers. The general assembly of the plane will be carried out in Shanghai.