China revealed their first owned passenger plane manufactured by a Chinese initiative to compete with the leading global aircraft manufacturers for the largest passenger jetliners in Aviation market. Though, China is also among the mammoths in Aviation industry, the state still depends on Boeing and Airbus aircraft.

Reported on CNN, the communist country, China unveiled on Monday their new C919 featuring its largely white fuselage, painted with a blue wavy stripe and a green tail was towed beneath a banner with the phrase "a dream takes off" and past a huge Chinese national flag. It is a twin engine with a wide-body aircraft and a seating capacity for 174 passengers. The size is also comparable to the Airbus 320 and Boeing 737 series of jets.

China's first made and owned jetliner was unveiled by the Commercial Aircraft Corp.  in a ceremony with 4,000 government officials in attendance and other VIP guests at a hangar near Shanghai's Pudong International Airport, the Fox News reported. The Asia air transport editor for the Flightglobal magazine, Mavis Toh said "It's a major push for the country, as they want to be known as a major player" in airplane manufacturing."

According to the Global Post, the China's newest aircraft type can range up to 5,555 kilometers (3,444 miles), and will undergo its first test flight next year, 2016.  The chairman of COMAC, Jin Zhuanglong said on the ceremony, "The roll out of the first C919 aircraft marks a significant milestone in the development of China's first indigenous aircraft." 

The amount invested to create their first homegrown passenger plane was not revealed, however, China's Export-Import bank said it would provide state-owned COMAC with $7.9 billion in finance for its aircraft projects. The company also said on a statement they already have 517 of C919 aircraft type in order and among the foreign airlines company, Thailand Airways made 10 orders from them.