China, Russia to co-develop heavy-lift helicopter in 2016

Aircraft expected to corner about 25% of international market, industry expert says

China and Russia are close to finalizing an agreement to jointly develop a heavy-lift helicopter next year, according to senior Chinese helicopter designers.

"The project is progressing smoothly, and we are discussing with our Russian counterparts terms and clauses in the agreement. The negotiations should conclude before the end of this year and the development will start next year," said Wu Ximing, chief helicopter designer at Aviation Industry Corp of China, at the Third China Helicopter Expo, which opened on Wednesday in Tianjin.