x Abu Dhabi, UAESunday 23 July 2017

China signs major business deals with French firms

Trade agreements involving aviation and nuclear companies come during a Chinese state visit to France.

PARIS // Senior Chinese officials and executives signed a series of huge trade deals with their French counterparts from energy giants Total and Areva and planemaker Airbus at a ceremony in Paris on Thursday.

European planemaker Airbus signed a deal Thursday to supply 102 airliners to Chinese firms at a cost of 14 billion dollars, President Nicolas Sarkozy's office announced during a visit by China's President Hu Jintao.

Meanwhile, French nuclear giant Areva signed a deal to supply 3.5 billion dollars' (2.46 billion euros') worth of uranium to Chinese power firm CNGPC, Areva chief Anne Lauvergeon told reporters.

She added that Areva had also signed a contract to build a uranium treatment plant in China, but did not cite the amount.

Meanwhile, Total said it was planning to invest two to three billion euros in a Chinese petrochemical plant.

The signing ceremony took place at Sarkozy's Elysee Palace on the first night of a three-day state visit by Hu that France hopes will result in a massive boost to its industrial and high-tech exports.

* Agencies