On November 23th, Hangwei High-Tech, a new titanium aero-parts company invested by AviChina, held its opening ceremony in Beijing. Mr. Tao Guofei, the Deputy General Manager of AviChina, other representatives attended the ceremony.

AviChina, invested RMB95 million, entered into the Joint Venture Agreement with AVIC Manufacturing Technology Institute (MTI) AVIC Hi-Tech Co., Ltd.(AVICHT) in relation to the formation of Hangwei High-Tech, which is expected to promote the industrialization of high-tech achievements of institutes improve the technical level of titanium aero-parts of AviChina subsidiaries. MTI is a comprehensive research institute that specializes in aeronautical manufacturing technologies, materials equipments.

Hangwei High-Tech will achieve expected returns for investors while meeting the needs of high-tech fields such as domestic aerospace.