Opening-up to benefit local, foreign companies

China's drive to further open up its aircraft manufacturing sector will be a shot in the arm for both the local industry and foreign companies planning to increase their investments, said the newly appointed China CEO of European aircraft manufacturer Airbus SE.

"It is significant positive news. It will be mutually beneficial for the local manufacturing industry and high-tech aviation companies to expand their investments in China. It will surely help to deepen the cooperation between foreign manufacturers and their Chinese counterparts," George Xu, CEO of Airbus China, told China Daily.

"Airbus values the importance of the China market, and it also recognizes the manufacturing and innovation ability of the country. We hope to achieve a win-win situation together with China," he said.