Meanwhile, other negotiations had been going on resulting in the formation of a second company, in which the partners were the Chinese Government and the German Luft Hansa. An agreement was signed on February 21, 1930, by which the Eurasia Aviation Corporation came into existence in February the following year. This company, together with the C.N.A.C., and South-West Aviation Corporation (established in 1934), have in their hands a monopoly of commercial and mail-transport aviation in China, sharing between them the credit for the remarkable progress seen in air transportation in the last seven years.