Boeing is set to break ground on its first overseas plane factory by the end of this month, and will aim to deliver 100 planes per year, with the initial batch expected in 2018, Chinese state media reported.
Auto manufacturer Ford is also growing in Asia's largest economy with plans to produce an all-new SUV in China for Chinese customers by the end of 2019, according to a company spokesperson. The new vehicle will be built in Chongqing, and will put the U.S. car company head-to-head with other foreign luxury car brands in China, such as Mercedes-Benz, owned by Daimler.
China's transportation industry is booming — it's already the world's largest auto market and manufacturer globally, and commercial airlines have rushed to add routes as more airports open across the country. Major companies like Boeing and Ford are seeking opportunities to gain a greater slice of the market, despite a slowdown in growth in the world's second-largest economy.