On July 23, the AVIC and France Safran signed the cooperation memorandum of agreement (MOA) of civilian turboprop engines in Beijing. This is another milestone of this kind of cooperation between China and France after a memorandum of understanding (MOU), that was signed by AVIC and Safran at the witness of Chinese President Xi Jinping and French President François Hollande in March 2014. Both sides will establish a new joint venture in China, and each will account for 50% shares. The joint venture is aimed at not only carrying out the design, researches and production work on the critical components of civilian turboprop engine, but also providing parts for the future global civilian turboprop engines of bilateral parent companies.
Lin Zuoming said in his speech that AVIC and Safran have a long history of cooperation and it has been further expanded. Furthermore, he hoped that both sides could have completed the signing of the framework agreement during the 2014 Zhuhai Air Show, and made the joint venture into a global-oriented and internationally competitive component supplier for civilian turboprop as soon as possible.
After the meeting, Lin Zuoming said the turboprop regional aircraft would account for a large share of the global air transport market, and entered into an important transitional period. Currently, AVIC is developing "MA-700" regional jet. It is expected that the cooperation of the components of turboprop engines will be conducive to the further development of the subsequent type of “MA-700”.