The China National Natural Science Foundation (NSFC) and the China Aviation Industry Corporation I (AVIC I) signed an agreement in Beijing on Thursday to launch a joint aviation science fund.
The joint fund will consist of annual contribution of four million yuan (US$0.5 million), with each side providing half.
"The joint fund aims to attract top research talent in the field of aviation science and to promote the combination of knowledge and technological innovation," said Liu Gaozhuo, general manager of AVIC I.
"China has entered a new era in which information promotes industry. Technological innovation thus plays an important role. The joint fund can optimize advantages and further promote China?s aviation industry", said Chen Jiaer, chairman of NSFC.
Established in 1999, AVIC I owns over one hundred domestic enterprises involved in the research, production and sale of civilian aircraft, engines and other products.
NSFC will administer the China national science fund through providing aid and creating a good environment for researchers.
(Xinhua News Agency January 17, 2003)
