AUSTRALIAN investment bank Sino Securities International and National Forge are considering teaming up with Aviation Industries of China and Geotech of Hong Kong to form a specialist international forging company. After a series of discussions in China, an agreement has been reached to prepare a feasibility study to look at a joint-venture company to tap the needs of the international aerospace industry. The study, which will take four months to complete, will also look at the prospects of providing specialised forging for the land-based gas turbine engine market and car industry. It would provide a wide range of forging in various sizes and technology configurations. ''On successful completion, a joint-venture company will be established,'' said Richard Li, the Hong Kong-born managing director of Sino Securities International. ''Sino Securities International will investigate various ways to raise equity for this venture, including a listing on the Australian Stock Exchange,'' he said. The Australian Stock Exchange has been informed about the proposed consortium's plans. Aviation Industries of China, the body now responsible for all aviation activities in China, would be represented in the joint venture by Hong Yuan Forging and Casting Co and the Beijing Institute of Aeronautical Materials. Hong Yuan Forge, based in Xian, is China's leading forging operator with major press and hammer forging capability. It already manufactures for the local aerospace industry and internationally, providing landing gear for Boeing in the US, and gas turbine engine compressor blades for Europe. The Beijing Institute of Aeronautical Materials has extensive experience in researching and developing technology for advanced aerospace materials. Mr Li said: ''The combination of National Forge's management, production technology and marketing expertise, with the enormous resources and capability of Hong Yuan Forge and the research and development capability and technology of the Beijing Institute, should prove to be a winning combination in the international forging industry and today's cost-competitive world.'' Mr Li has been in Australia for 22 years. He set up Sino Securities Group, whose major shareholders include the Government of Singapore Investment Corp, Rockefeller Far East and Sally Aw Sian, in 1987. He is probably best known in Hong Kong as the head of underwriter Sino Investment Services, which helped mastermind the listing of Guangdong Corp, a subsidiary of Hong Kong-listed Guangdong Investment and the first Chinese corporation to list in Australia. This is the latest in a series of moves by Aviation Industries of China to increase aerospace manufacturing capabilities on the mainland. With China's aviation industry expanding rapidly, Beijing is looking to manufacture many aircraft and parts indigenously.