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China signs US$1.3b deals with UK firms
(AFP)
Updated: 2005-11-09 01:50
China signed commercial aviation contracts worth 1.3 billion dollars (1.1
billion euros) with Rolls-Royce and Airbus that coincided with President Hu
Jintao's state visit to Britain.
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Britain's Prime Minister Tony
Blair (L) greets President Hu Jintao of China inside 10 Downing Street in
London. China signed commercial aviation contracts worth 1.3 billion
dollars (1.1 billion euros) with Rolls-Royce and Airbus that coincided
with Hu's state visit to Britain. [AFP]
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In deals witnessed by Hu and British Prime Minister Tony Blair, China agreed
also to open its markets to Lloyds of London, the world's biggest insurance
underwriting market.
Engineering consultant Arup was meanwhile contracted to develop a master-plan
for three new cities by the Shanghai Industrial Investment Corporation (SIIC),
Blair's office confirmed.
Downing Street said the "major commercial deals" would "give a further boost
to the rapidly growing business relationship between China and Britain".
British aerospace giant Rolls-Royce signed an 800-million-dollar deal with
Air China, officials said.
The contract, to supply the Chinese with Trent 700 engines for a fleet of 20
Airbus A330-200 widebody jets, was signed by representatives of both companies
at Downing Street.
The two firms had originally announced the deal, which
includes an engine maintenance agreement, at the Paris Air Show in June.
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