SHANGHAI: The first large Chinese-made passenger jetliner took off on its maiden test flight Friday from Shanghai, a symbolic milestone in China’s long-term goal to break into the Western-dominated aircraft market.
China is touting the C919 as a rival to single-aisle jets the Airbus A320 and Boeing 737. The plane was originally due to fly in 2014 before being delivered to buyers in 2016, but has been beset by delays blamed on manufacturing problems.
If the maiden flight is successful, the aircraft’s maker, state-owned Commercial Aircraft Corp. of China Ltd., or Comac, will then seek certification from China’s civil aviation authority and foreign regulators before making any deliveries.
The jet’s development is a key step on the path laid out by Chinese leaders to transform the country into a creator of profitable technology.
Comac says it has 570 orders, mostly from state-owned Chinese airlines. A total of 23 domestic and foreign customers have placed orders. The handful of foreign customers includes GE Capital Aviation Services and Thailand’s City Airways.
The plane can come with 155-175 seats and has a standard flight length of 4,075 kilometers (2,530 miles).
China’s first domestically made jet, the twin-engined regional ARJ-21, flew its passengers in June 2016, eight years after its first test flight.
Large Chinese-made passenger jet makes maiden flight
Large Chinese-made passenger jet makes maiden flight
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
