The China Economic Review reports:

China's State Council is considering a proposal that could see the country develop its own large passenger jets, industry sources told Reuters . The multibillion dollar project, the product of a recent hearing attended by government officials and industry experts, would ease China's reliance on the likes of Boeing and Airbus. AVIC I and AVIC II, the country's two state aircraft manufacturers would be involved along with the Commission of Science Technology and Industry for National Defense. It is said that a prototype would be produced by 2010. Both AVIC I and AVIC II make components for Boeing and Airbus and they also have experience developing civilian jets. According to the latest Airbus projections, China will need around 2,650 new passenger aircraft over the next 20 years.

Source:  www.chinaeconomicreview.com