After $100 million had been spent on further exploration and development, the find led to commercial production in 1967.
After one year, 46 structures had been built and more than $35 million spent on development.
He also plans to spend the money on research and development.
Last year, China spent $60 billion on research and development.
About $20 billion has been spent on research and development since the plane was proposed in 1981.
More than $50 million has been spent on research and development, he said.
About $24 billion of that was spent on research and development.
In 2005, the corporation spent $870 million on research and development.
The company also spent $152 million on research and development, up 167 percent from a year ago.
The company spent $1.2 billion on research and development in 1993.