US-China Business Deals
Last week, China and the U.S. agreed on $45 billion in U.S. export deals during Chinese President Hu Jintao’s state visit. Please read more here.
U.S. President Barack Obama highlighted the benefits to the U.S. economy that the deals will bring, stating, “From machinery to software, from aviation to agriculture, these deals will support some 235,000 American jobs—and that includes many manufacturing jobs.”
CBI members Boeing and GE signed prominent deals during the visit. The American aviation giant received final approval from the Chinese government confirming a $19 billion contract to deliver 200 Boeing aircraft to China between 2011 and 2013.
GE signed five agreements with Chinese partners that are forecasted to generate more than $2 billion of revenue over the next 10 years for the U.S. conglomerate. GE’s deals included a joint venture to develop coal gasification technology in China and a letter of intent to help upgrade China’s railway network.
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