The world's second-largest economy will likely start manufacturing engines for jumbo jets soon, according to Rolls-Royce, a long-time engine manufacturer for commercial and defense aerospace.

"In the long-run, it's very possible and plausible that China and other countries will be looking to develop wide-body engines," said Rolls Royce Chairman Ian Davis at the Singapore Summit over the weekend. "It makes sense for industrialized countries to start doing so and we assume at some stage of the future that they will come in."

The Shanghai-based Commercial Aircraft Corporation of China, or COMAC, has already begun the development of a narrow-body engine.