GE signs $3.5B worth of deals in China

JPMorgan Asia Pacific Chairman and CEO Nicolas Aguzin discusses

JPMorgan Asia Pacific Chairman and CEO Nicolas Aguzin discusses

Boeing said the agreement includes orders and commitments for 300 single- and twin-aisle aircraft, although the manufacturer did not specify aircraft types.

A GE spokesperson said its engine orders were new, and deferred to Boeing on how much of aircraft order was new.

The new agreement also may overlap substantially with a similar, 300-plane agreement Boeing signed during Chinese President Xi Jinping's 2015 visit to the United States.

Chinese state television also reported that USA planemaker Boeing had signed $37 billion in commercial deals in China as part of Trump's visit.

"Boeing and China have a strong history of working together based on great mutual respect, and these orders build on that foundation", he said.

China has seen a surge in the civil aviation transportation market in recent years.

Analysts said, however, that some of the orders may be among more than 300 from undisclosed buyers posted this year, and it was not clear how much of the China deal was new business. Of these, 290 were for the 737.

This is not the first time China Aviation Supplies has been involved with large deals during previous government exchanges. Records show that Boeing has in fact sold 155 aircrafts to China last year, and this year already a quarter of their jet planes have been sold to Chinese customers.

Boeing and European rival Airbus have been jostling for market share in China, the world's fastest growing aviation market, with both opening assembly plants in the country. In May this year, the first Chinese-built passenger jet, the twin-engine C919, made its maiden flight from here at Shanghai's Pudong worldwide airport. Back then, Chinese aviation industry expert Gu Bin was quoted as saying that the aircraft would "rip a hole" in the market dominance of Airbus and Boeing. More than 50% of all commercial jetliners operating in China are Boeing aircraft.

Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.

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