China-developed AS700 airship sees multiple technology breakthroughs

China has made multiple technological breakthroughs in the production progress of its first self-developed civil airship, the AS700 "Xiangyun".

Last month, the AS700 "Xiangyun" carried out a successful maiden ferry flight in central China's Hubei Province to verify its flight communication, facility loading and takeoff and landing capabilities.

According to its developer -- the Aviation Industry Corporation of China (AVIC), the single-capsule manned airship has a maximum capacity of carrying 10 passengers, including a pilot.

It can fly at a height of 3,000 meters, with a maximum flight range of 700 km, and a maximum endurance of 10 hours.

With a maximum flight speed of 100 km per hour, the airship will be mainly used in tourism, aerial survey, patrol services and emergency communication. According to Zhang Hua, senior engineer with the Special Vehicle Research Institute of AVIC, the capsule of AS700 is made of home-made non-metallic multilayer composite materials. The configuration design of the capsule ensures that the airship can land on the ground safely even if the capsule is damaged.

"In the past ten years, many capsule materials have been domestically produced. Even if it's broken, the air will slowly leak out, which ensures that the airship can fly back safely," Zhang said.

In order to make the flight more stable in the air, the research team has also solved key technology problems regarding flight control and developed a leading thrust-vector-control technology, making the takeoff and landing of the AS700 smoother and more accurate.

"After the adoption of this technology, we can take off and land in short distances or even vertically, which reduces reliance on traditional takeoff and landing sites. We can use a site to do vertical takeoff and landing as long as the surface is flat and we don't even have to do it at airports," said Zhang.

According to the AVIC, the first commercial AS700 is scheduled to be delivered by the end of this year.

China-developed AS700 airship sees multiple technology breakthroughs

China will take more steps to further facilitate cross-border financial services in Shanghai by leveraging the municipality's role as an international financial center, according to a plan jointly issued by the central bank, the Shanghai municipal government and other financial authorities.

The plan outlines 18 key measures including improving cross-border settlement efficiency, strengthening the hedging of foreign exchange risks, and enhancing the insurance sector's services for export companies.

China will further optimize the management and operation of foreign exchange business, and encourage corporate groups to establish fund pools in Shanghai to achieve efficient onshore management and use of global funds.

The country will also support financial institutions to enhance their capacity to provide digital services and improve services for enterprises to expand abroad by leveraging technologies such as blockchain.

Efforts will be made to enhance the functionality and global coverage of the Cross-Border Interbank Payment System and encourage more banks to participate in the system, according to the plan.

The plan underscores the need to develop diversified products and services to hedge against foreign exchange risks, and to promote cross-border use of the Chinese currency renminbi.

According to the plan, China will increase insurance support for key export enterprises such as domestic commercial aircraft and new energy vehicle companies. The plan also encourages collaboration between insurance companies and reinsurance firms to establish insurance consortiums, thereby enhancing their capacity to cover special risks.

China to further facilitate cross-border financial services in Shanghai