China, Russia To Sign Jet JV Agreement - Report

China and Russia are set to sign an agreement on developing a wide-bodied airliner before the end of the year, the China Daily reported, quoting the president of Russia's state-controlled United Aircraft, Yury Slyusar.

United Aircraft and state-controlled COMAC have been considering the joint development since May 2014.

Slyusar said the agreement would initially outline profit sharing and responsibilities, with technical requirements to be decided by March next year.

The joint project could give both China and Russia a chance to compete in the wide-body segment against Airbus and Boeing.