By Prei Dy, | April 30, 2017
China has installed 8,000 technological advances on its first homegrown aircraft carrier Type 001A. (YouTube)
China has installed around 8,000 technological breakthroughs and industrial standards on its first homegrown aircraft carrier, the Type 001A, which was launched this week, a senior analyst said.
"The homegrown aircraft carrier involves around 8,000 technological breakthroughs and some industrial standards in advanced manufacturing sectors such as electronic equipment, power plants, and steel products that have been developed in the wake of the project," Liu Xuezhi, a senior analyst from the Bank of Communications, said.
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China's first aircraft carrier, likely to be named Shangdong, aims to boost the country's economic development and industrial upgrade as well as provide military and technological benefits to the society.
"The huge project of building an aircraft carrier provides a valuable opportunity to many Chinese companies, and industries will be able to push industrial advances," Song Zhongping, a military expert, said. The Type 001A is a typical civil-military integration initiative that President Xi Jinping has promoted, and its technologies can be transferred to civilian use, the Global Times reported citing Song.
"The money spent on the aircraft carrier is an investment rather than a mere expenditure," Song said.
Han Pu, executive director of the Civilian-Military Integration Equipment Research Institute, said that the launch of the aircraft carrier is a boon for both state-owned and private companies, particularly at a time when the world economy is facing a slowdown.
Han said that China's military industry has a huge opportunity and will feed into the domestic economy in the long run. "There is money to be made for military products, averaging at above 30 percent of investment," Han said, noting that even for private players still has around 20 percent profit margins on military support equipment.
Liu also hailed the launch as a milestone in the country's ambitious "Made in China 2025" initiative. "Technology-intensive projects like that have greatly boosted the country's research and development ability and the upgrade of the manufacturing industry," he said.
The 50,000-ton aircraft carrier was launched on Wednesday at the Dalian shipyard of the China Shipbuilding Industry Corporation. It will join China's existing aircraft carrier Liaoning, which has been bought from Ukraine in 1998. China is starting to build its third aircraft carrier, the Type 002, and plans to have at least six.
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