The China National Natural Science Foundation (CNNSF) and the China Aviation Industry Corporation I (AVIC I) signed an agreement Thursday in Beijing to launch a joint aviation science fund.
The joint fund will consist of annual contribution of four million yuan (0.5 million US dollars), with each side providing half.
"The joint fund aims to attract top research talent in the fieldof 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'saviation industry", said Chen Jiaer, chairman of CNNSF.
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.
CNNSF will administer the China national science fund through providing aid and creating a good environment for researchers.