August 30, 2007 -- Chengdu Kongtian Hi-Tech Industry Base Park was opened in Chengdu Hi-Tech Industrial Development Zone on August 18, 2007. The new park will focus on space and aviation technology and it is operated by a joint venture, Chengdu Kongtian Hi-Tech Industry Base Co., Ltd. with authorized capital of 230 million yuan (US$30.42 million).

"China Aviation Industry Corporation No.1 plays a very important role in the industrial park. In fact, five of the sixteen park founders are subsidiary companies of China Aviation Industry Corporation No.1," Jian Peng, a spokeswoman at Chengdu Hi-Tech Industrial Development Zone, told Emerging China.

"We are committed to rapid growth and to developing a new high-tech industrial group that contributes to the nation," Zuoming Lin, president of China Aviation Industry Corporation No.1, said in a statement. "The building of the park is a milestone in China's aviation industry, showing it has moved forward from technological research to industrial production."

"We are making a platform which accepts all qualified enterprises, including state-own company and private enterprises," Yuejin Song, president of Chengdu Kongtian Hi-Tech Industry Base Co., Ltd., said in a statement.

"Space technology is one of the cutting edge technologies which China emphasized on in the Middle-Long Term Program of Science and Technology Development. It has huge application potential," Yingcong Zhang, a researcher at Chengdu's Economic Information Center, told Emerging China.

China Aviation Industry Corporation No.1 designs and builds third-generation large-thrust turbo fan engines and fourth-generation air-to-air missiles. It is also developing a new generation of aviation weaponry.

"The main reason why China Aviation Industry Corporation No.1 arrived in Chengdu is that it has substantial research and development resources, including the Aircraft Design Institute," Peng said. "Chengdu government also said it will support the industry park in the future."

Zhang agrees that Chengdu is one China's most important aviation centers.

"This industry base will become a good platform for scientific research and the industrialization of space technology. China Aviation Industry Corporation No.1 is a qualified participant, which independently designed and produced the third-generation fighter aircraft for light or heavy mission applications."

Peng points out that although the planning of the base is complete, tender invitation and the installation of utilities are ongoing processes. "It is expected that the revenue of the industrial park will exceed 30 billion yuan (US$ 3.97 billion) when completed."