Tianjin to build aerospace industry zone

Tianjin will be establishing an aerospace industry zone, with expectations that the zone will generate 100 billion yuan ($16.41 billion) in revenue by 2015, the Tianjin economic and information commission said.

The aerospace industry in Tianjin is expected to grow 38 percent annually by 2015 and companies that build passenger aircraft, helicopters, unmanned aerial vehicles, rockets and satellites, have already established facilities in the city.

In the first three quarters of 2013, the gross value of the aerospace industry reached 24.47 billion yuan, a rise of 41.4 percent year-on-year.