China and Russia on Monday announced a new joint venture in Shanghai to start their research and development of a wide-body passenger airliner.

The joint venture, the China-Russia Commercial Aircraft International Corporation (CRAIC), was launched by China’s Commercial Aircraft Corporation Ltd. (COMAC) and Russia’s United Aircraft Corporation.

The CRAIC will undertake technical development, manufacture, marketing, sales, technical support and consultation of the wide-body airliner, as well as project management.

The prototype of the wide-body airliner is a 280-seat jet, with a flying range of 12,000 kilometers. The preliminary design of the airliner will start soon and the assembly will be done in Shanghai.

Story by CCTV Plus.