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China agrees to buy 300 Airbus jets in bilateral dealmaking with France


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China agrees to buy 300 Airbus jets in bilateral dealmaking with France

France and China signed 15 business deals during Chinese President Xi Jinping's state visit in Paris, media reports said, including the purchase of 300 aircraft from French aerospace giant Airbus SE, worth billions of U.S. dollars.

China Aviation Supplies Holding Co. agreed to buy 290 aircraft from the A320 family and 10 from the A350 XWB family, Airbus said in a statement, without providing financial terms of the deal.

According to Airbus' 2018 average price list, an A320 aircraft is valued at $101.0 million, while the A350 models have a price range of $280.6 million to $366.5 million each.

The Airbus deal was signed in the presence of Xi and French President Emmanuel Macron, and was accompanied by several other deals in energy, food, transport and other sectors, according to The Associated Press.

The other deals include a €1 billion contract for Electricité de France SA to build an offshore wind farm in China and a €1 billion deal between France's Fives and China National Building Materials Group on energy savings cooperation in developing countries, Reuters reported. CMA-CGM Group and China State Shipbuilding Corp. also reached a €1.2 billion deal to build 10 tankers.

Macron and Xi will hold further talks March 26, according to Reuters, which reported that France will use Xi's state visit as an opportunity to challenge China's Belt and Road initiative, which seeks to link the country with Southeast and Central Asia, the Middle East, Europe, and Africa through an infrastructure network.

"For many years, we had an uncoordinated approach, and China took advantage of our divisions," Reuters quoted Macron as saying on March 22.