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GE, AVIC to finally form aviation JV this week-source

* JV originally announced in 2009-source

* JV agreement to be signed in Chicago on Friday-source

NEW YORK, Jan 17 (Reuters) - General Electric Co GE.N is finalizing a previously announced joint venture with a Chinese state-owned aircraft maker and plans to sign the agreement later this week, a source familiar with the matter said on Monday.

GE and China’s Aviation Industry Corp (AVIC) agreed in late 2009 to form the avionics joint venture that will have China’s commercial aircraft market as one of its main targets.

The JV agreement is expected to be signed on Friday in Chicago, when China’s President Hu Jintao is visiting the city, the person said.

The initial focus of the 50-50 joint venture will be to develop equipment for China’s C919 passenger jet. GE said in July that the JV was selected by Commercial Aircraft Corporation of China to provide computer systems for controlling the aircraft, displaying information to pilots and tracking its maintenance needs.

GE declined to comment. (Reporting by Michael Erman; editing by Carol Bishopric)

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