A Chinese delegation headed by Zhang Guobao, vice minister of
the State Development and Reform Commission, signed three
procurement deals worth US$4.7 billion with US companies, Boeing,
General Electric and General Motor, in Washington and Detroit on
November 12.
Five Chinese airline companies signed to buy 30 Boeing 737
airliners for US$1.7 billion. According to the agreements, these
aircraft will be delivered to Air China, Hainan Airlines,
Shandong Airlines, Shenzhen Airlines and Xiamen
Airlines in 2005 and 2006.
China
Aviation Industry Corporation I signed a long-term deal with
General Electric, buying GE engines for the production of ARJ21
jets. The total value of the deal will be up to US$3 billion in the
coming 20 years.
“These two deals with Boeing and GE are the start of a
multi-industry purchasing spree in the United States that will also
include agricultural products, autos and auto components, as well
as telecommunication equipment,” said Zhang Guobao at the signing
ceremony held in Washington. China is making efforts to narrow its
trade surplus with the United States, but the final solution
requires joint efforts, he added, urging US government to relax its
discriminative export control policy against China.
US Commerce Secretary Don Evans said that he welcomed the deals
reached between the two countries. “These multibillion-dollar
contracts are a big victory for Boeing and GE,” he said. “They will
generate corporate revenue. They will support high tech
manufacturers and generate thousands of jobs.” Evans also noted
that the US is working to consolidate and expand its trade
relations with China.
According to a Chinese News Service report, earlier today
(Beijing time), the Chinese delegation also signed to buy from
General Motors 4,500 Cadillacs, Buicks and other brands. General
Motors will also provide assembly workshops in China for auto
components. The contract is worth US$1.3 billion. In addition, Ford
and Daimler Chrysler have also announced their cooperation plans
with China.
(China.org.cn by Chen Qiuping, November 13, 2003)