China Buys 300 Planes | Signs $38 Billion Deal With Boeing

BEIJING: Boeing and China Aviation Suppliers Holding Company have signed an agreement on Wednesday, 8 November, for the purchase of 300 airplanes during a ceremony in Beijing. It was part of the US trade mission to China, and was signed by Kevin McAllister, Boeing Commercial Airplanes President and CEO, in the presence of US President Donald Trump and China President Xi Jinping. The agreement includes orders and commitments for 300 Boeing single-aisle and twin-aisle airplanes. The airplanes are valued at more than $37 billion at list prices.

“China is a valued customer and key partner, and we’re proud that Boeing airplanes will be a part of its fleet growth for years to come,” said McAllister. “Boeing and China have a strong history of working together based on great mutual respect, and these orders build on that foundation.”

State-owned Commercial Aircraft Corporation of China, which is better known as Comac, also signed a cooperation agreement with the U.S. plane maker to build a 737 aircraft assembly center in China. Boeing said the new facility would paint the jets and finish their interiors.

The assembly plant would be Boeing is first in China and signals its attempt to match its European rival Airbus’s Chinese presence as the two rivals step up their efforts to win more business in the country’s lucrative aircraft market. Boeing said the Chinese facility wouldn’t reduce employment levels at its plants in Washington state.

Boeing and China continue to work on mutually beneficial ways to grow and support the aviation market. These efforts include industrial cooperation, the development of technologies to reduce aviation’s environmental impact and enhance sustainability, and continued cooperation to support the safety, efficiency and capacity of China’s air transport system.

 

China inks deals worth $38 billion to buy 300 Boeing jets

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