China is now one of Boeing company's largest foreign supplier of parts, with US$2.5 billion of live contracts for aircraft products, a senior Boeing official said in Hong Kong on Thursday.
John Bruns, vice president China operations of Boeing, said at the Asian Aerospace International Expo and Congress held Monday through Thursday that China is an "exciting proposition", and offers greater opportunity for OEMs than "just selling airplanes".
"Liberalization is creating a more competitive environment and airline strategies are assisting with this growth by responding to the customer's desire to save time by flying point-to-point," he said at the congress.
China will need more than 2,900 new aircraft to satisfy the growth of the industry, Bruns said, adding this will inevitably lead to more investment on the Chinese mainland.
According to Bruns, Boeing currently has 170 direct Boeing employees in China and 3,000 people working in Boeing joint ventures.
"China now has a role in all current Boeing models," he added.
The Asian Aerospace International Expo and Congress 2007 closed on Thursday in Hong Kong. It is the first time the Expo moves its venue from Singapore to Hong Kong.