SHANGHAI: China and Russia on Monday completed the formal registration of a joint venture to build a wide-body jet, kick-starting full-scale development of a program aimed at competing with market leaders Boeing Co and Airbus SE. State plane makers Commercial Aircraft Corp of China Ltd (COMAC) [CMAFC.UL] and Russia’s United Aircraft Corp (UAC) said at a ceremony in Shanghai the venture would aim to build a “competitive long range wide-body commercial aircraft”. The announcement comes just weeks after COMAC successfully completed the maiden flight of its C919, China’s first home-grown narrow-body passenger jet. COMAC President Jin Zhuanglong said the two firms had decided to hold the establishment ceremony after the C919’s flight. “This program is aimed at fulfilling future market demand,” he told reporters. “Our two countries, our two firms … have created this joint venture to undertake responsibilities such as organization, research, management and implementation.”