Hafei Aviation Industry Co Ltd (stock code: 600038) said its board has approved a plan to set up a technical services joint venture with Airbus China and two other companies.

According to a statement filed with the Shanghai Stock Exchange, Hafei Aviation said the other partners are Jiangxi Hongdu Aviation Industry Co and China Aviation Industry Corporation I (AVIC I).

Airbus China will hold a 70 pct stake in the joint venture, Hafei will hold 18 pct, Jiangxi Hongdu will hold 7 pct and AVIC I will hold 5 pct, Hafei said.

The joint venture, with registered capital of 22 mln usd, will provide training and other technical services for Airbus and its affiliates in China and elsewhere.