China inks deals worth US$38 billion to buy 300 Boeing jets
Boeing said on Wednesday that Chinese companies have agreed to buy 300 jets and build an aircraft assembly plant in China.
Boeing said on Wednesday that Chinese companies have agreed to buy 300 jets and build an aircraft assembly plant in China.
The deals, worth about US$38 billion, were signed during Chinese President Xi Jinping’s visit to the United States.
China Aviation Supplies Holding Company, ICBC Financial Leasing and China Development Bank Leasing inked the jet purchase agreement after Xi’s arrival in Seattle. Boeing said the orders were mostly for its 737 models.
The state-owned Commercial Aircraft Corporation of China on Tuesday also inked a deal with Boeing to set up a "completion centre" for its 737 airliners.
Xi visited Boeing’s Paine Field assembly plant during the Seattle leg of his trip before moving on to Washington, DC, to meet President Barack Obama.
READ MORE: Xi Jinping’s US visit: itinerary, issues and delegation
Boeing CEO Dennis Muilenburg said he saw scope for more 737 work going to China as the company raised production rates of the single-aisle jetliner, but stressed any changes would not come at the expense of jobs in the United States.