COMAC teams with Russian company to make wide-body jet

China and Russia launched a joint venture in Shanghai on Monday to build a widebody aircraft that ultimately aims to break the global market duopoly of Boeing Co and Airbus Group SE.

Commercial Aircraft Corporation of China and Russia's United Aircraft Corp will each hold four seats in the eight-member board of the joint venture, named China-Russia Commercial Aircraft International Co Ltd.

But the two companies declined to release share structure of the enterprise.