China signs deal to buy 300 Boeing jets
Global aviation major Boeing announced on Wednesday that it had struck a record deal worth $38 billion with China to make 300 planes for the country.
Boeing said the planes include 250 narrowbody 737 aircraft and 50 widebody aircraft, adding that the deal was signed during the visit by China’s President Xi Jinping to its Everett, Washington, factory.
President Xi told hundreds of Boeing employees in the factory that he sees bright prospects for future collaboration between China and Boeing.
Boeing Chief Executive Dennis Muilenburg thanked Xi for the orders and called his visit a "testament" to the relationship between the US, Boeing and China, Reuters reported.
Boeing is also reportedly planning to sign a separate deal with China to build a 737 completion center in China that would finish, paint and deliver 737s built at Boeing's factory in Renton, Washington.
Boeing is battling with Airbus Group for dominance of Chinese market, which Boeing says will need $1 trillion worth of new planes over the next two decades.
Airbus supplied 6 percent of mainland China's aircraft in 1995, but in 2008 the European plane maker put an assembly plant in China to make its A320 aircraft, which competes with Boeing's 737.
Today, both companies account for about half the in-service fleet. Last week Airbus opened an A320 factory in Alabama, its first on US soil.
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