Boeing And China Based Planemaker Agree To Expand Joint Research Pact - Boeing (NYSE:BA)

China-based Commercial Aircraft Corporation of China (COMAC) and Boeing Co BA signed an agreement to expand cooperation on their joint research center.
Citing the state media Shanghai Securities News, Reuters reported that the pact aims to support aviation's sustainable development further.
The deal comes as Boeing remains determined to maintain a strong presence in China, even though it no longer factors the country into its financial forecasts because China will not accept deliveries of new MAX planes.
COMAC said it had secured 330 orders for its C919 narrowbody and ARJ21 regional jets and raised its 20-year aircraft demand forecast at the Zhuhai airshow.
No delivery dates were provided.
Related: Boeing's Jeppesen Unit Sees Potential Ransomware Attack, Causes Flight Planning Disruptions.
The Chinese plane maker's forecast is higher than Boeing's, which predicted last month that China would require 8,485 new planes in the next 20 years.
Boeing forecasts China would need 6,370 single-aisle airplanes to support its growing network of international and domestic routes in that time, while COMAC said that 6,896 such planes would be needed.
Price Action: BA shares are down 0.08% at $169.48 during the premarket session on the last check Wednesday.