China begins to challenge Boeing

Bloomberg

May 11 -- China set up a company to build large jets, challenging the dominance of Airbus SAS and Boeing Co. in the market for planes with 150 seats.rnChina Commercial Aircraft Co. was formed today with an initial investment of 19 billion yuan ($2.7 billion), according to a statement on the central government's Web site. Investors in the company include China Aviation Industry Corp. I, or AVIC I, and AVIC II...