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China Aviation Industry General Aircraft Co., Ltd. (CAIGA) and French company Flying Whales have signed an agreement to co-found a joint venture to make heavy-load airship.

They made the deal at the China-France Business Summit in Toulouse, France, July 2, 2015. The joint venture, to be based in Paris, mainly focuses on heavy load airship’s research, development, sales and service. The joint venture will take advantages of both sides' resources in technology, fund and markets to promote airship production and to increase its competitiveness in the world.

Qu Jingwen, CEO of CAIGA, said his company has made a long term plan to research and development the airship: the plan includes signing and producing heavy duty airship for selling domestically and internationally, and making manned airship for growing domestic demand.

Both sides are confident with their future cooperation, said the CEO.