Aviation Industry Corporation of China (AVIC), one of the country's main aircraft producers, announced Wednesday that one of its subsidiaries, Xi'an Aircraft Industry (Group) Company (XAIC), will set up two joint ventures with Goodrich Corporation, the world's largest aircraft component supplier.

The two joint ventures will mainly produce nacelle and landing gear systems, and their customers will include Boeing, Airbus UK and Bombardier. The nacelle JV will also be the first commercial aircraft nacelle producer in China.

AVIC and Goodrich will each hold 50 percent of the two joint ventures.

Details about the investment of both sides will be disclosed in a future notice, said Meng Xiangkai, chairman of XAIC.

The production base for both joint ventures will be in Xi'an in Shaanxi Province.

The first landing gear for Boeing 737 aircraft in China is projected to be produced by the end of the year by the joint venture.

AVIC can further improve its production technology and enter the international market through the JV.