China tests new stealth fighter; eyes export sales

December 26, 2016

Beijing, Dec 26: China has tested an improvised version of its stealth fighter and plans to sell it at half the price of the US variant to break Western monopoly over the high-tech aircraft, which will have strategic implications for India as Pakistan has already shown interest in acquiring it.plane

An improved version of China's fifth-generation FC-31 Gyrfalcon stealth fighter jet has conducted its maiden flight last week in Shenyang, capital of Liaoning province, state-run China Daily reported today.

Previously known as the J-31, the twin engine, radar evading aircraft is still under development by Shenyang Aircraft Corp, part of the Aviation Industry Corp of China, (AVIC), it said.

The Chinese stealth aircraft have strategic significance for India as besides China, Pakistan - which is producing JF-17 Thunder fighter along with Beijing - has already evinced interest in acquiring China's stealth fighter.

India is yet to have stealth aircraft in its arsenal. AVIC displayed a large-scale model of the FC-31 at the 14th Dubai Airshow in the UAE in November, 2015.

Specifications supplied by AVIC show the jet has a maximum takeoff weight of 28 metric tonnes, a flight radius of 1,250 kms and a top speed of Mach 1.8, or 1.8 times the speed of sound.

It can carry eight tonnes of weapons. The plane can hold six missiles in its internal weapons bay and another six under its wings, AVIC said.

The first test flight of the FC-31's second prototype took place on Friday at Shenyang Aircraft Corp, four years after the first prototype took to the skies, the Daily quoted officials as saying.

The report also said fifth-generation fighters are the most advanced available. Fu Qianshao, an aircraft expert with the PLA Air Force, said the new FC-31 has state-of-the-art instruments such as its electro-optical targeting system and helmet-mounted display and sight system.

The new FC-31 seems to have better stealth capabilities, improved electronic equipment and a larger payload capacity, said Wu Peixin, an aviation industry observer in Beijing said.

"Compared with the first FC-31, there are a lot of improvements on the second prototype. Changes were made to the airframe, wings and vertical tails, which make it leaner, lighter and more manoeuvrable," he said.

AVIC wants to use the FC-31 to capture market share at home and abroad but the company is making a big push to attract foreign buyers with its medium-sized stealth combat planes, he said.

Li Yuhai, deputy general manager of AVIC, previously said AVIC plans to use the FC-31 to "put an end to some nations' monopolies on the fifth-generation fighter jet" and this plane "is able to compete with any other aircraft of its kind".

"I believe the aircraft will have bright prospects in the market. Based on my experience and knowledge, I presume its price will be around USD 70 million, about half that of the US' Lockheed Martin F-35 Lightning II," Fu said.

"Moreover, the fourth-generation Euro fighter Typhoon and Dassault Rafale fighter jets are priced at about USD 100 million. All of these mean you can spend a lot less money to get an advanced, fifth-generation stealth combat plane," Fu told the Daily.

The only fifth-generation fighter jet currently available in the market is the US' F-35 Lightning II, but the US sells it only to allies.

Following the Friday test flight, aviation enthusiasts posted pictures on Chinese websites, showing what they said was the second prototype in flight.

The FC-31 was unveiled in October, 2012, when the first prototype made its maiden flight, becoming the country's second fifth-generation fighter jet following the J-20, which conducted its first flight in January, 2011.

Deliveries of the J-20 to the People's Liberation Army Air Force have started.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 4,2020

Beijing, Jun 4: Around 40 students and staff members of a primary school in China were stabbed by a security guard, official media reported today.

The incident happened at a school in China's Guangxi province, state-run China Daily said in a brief report.

Further details about the attack are awaited.

Knife attacks by disgruntled people have been taking place in different parts of China in the past few years, reported news agency Press Trust of India.

The attackers targeted mainly kindergarten and primary schools besides public transport, the news agency reported.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 27,2020

Dubai, Feb 27: Twenty two people have died so far from the new coronavirus in Iran, the official Iranian news agency IRNA reported in a chart it published on Thursday.

The number of people diagnosed with the disease is 141, the chart showed. It did not specify whether those who have died were included in the tally of those infected.

Iranian officials on Wednesday reported a total of 139 cases of coronavirus and 19 deaths.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.