.
85-percent interest in the Snecma Xinyi Airfoil Castings Co., Ltd., a Guiyang-based joint venture with the Guizhou Xinyi Machinery Factory, established in July 2006. The plant produces low-pressure turbine blades, nozzle guide vanes, and low-pressure turbine seals for the CFM56 family of commercial jet engines (“Worldwide—Snecma Xinyi Airfoil Castings”).
Extent to Which China-Based Production Supplies U.S.
Aerospace Firms
The value of aerospace imports to the United States from China was about $421 million in 2009, about 1 percent of total U.S. aerospace imports. This made China the tenth most important aerospace supplier to the United States. See Figures 4.1 and 4.2. By contrast, aerospace exports to China from the United States totaled $5.314 billion in 2009, or 6.5 percent of U.S. aerospace exports. See Figure 4.3. The dispar-ity between these figures should not be taken to imply that the United States is contributing more to China’s aviation industry than China is contributing to the U.S. aviation industry. The vast majority of aero-space exports from the United States to China appear to be complete aircraft sold directly to Chinese airlines. In 2009, Boeing sold 72 large commercial airplanes to Chinese airlines, including 61 737s, four 747s, and seven 777s (“Orders and Deliveries”). Boeing does not disclose the total amount paid for these aircraft, but according to Boeing’s website, 737s cost between $60 million and $80 million, while both the 747 and 777 cost more than $200 million each (“Commercial Airplanes —Jet Prices”). If the Chinese airlines paid $60 million for each 737 and $200 million for each 747 or 777, the total amount would have been $5.86 billion, more than actual U.S. aerospace exports to China that year. Even if the Chinese airlines paid only 90 percent of these amounts, these sales would account for all but $40 million of U.S. aerospace exports to China in 2009. Most of the exports from China to the United States, by contrast, are inputs to final products that are completed in the United States.
Aerospace imports from China grew at an average annual rate of 25 percent between 2005 and 2009, while total aerospace imports from all sources grew at an average annual rate of only about 6 per-cent, suggesting that China’s share of U.S. aerospace imports will likely increase rapidly in coming years.
Figure 4.1
U.S. Aerospace Imports, 2009
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Imports.(millions.of.dollars)
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