China to buy 200 Boeing aircraft

The US has signed a $45bn (£28bn) export deal with China, according to a Washington official. The trade deal includes a $19bn purchase of 200 Boeing aircraft. It comes amid an official state visit by China’s President Hu Jintao to the States. Boeing chief executive Jim McNerney was among a host of American chief executives present at a Wednesday meeting with Presidents Hu and Barack Obama at the White House.

Among the other company heads attending were Steve Ballmer of Microsoft, Lloyd Blankfein of Goldman Sachs and Jeff Immelt of General Electric. The official said the trade deal included orders for US agriculture, telecoms and computer companies, and would create 235,000 jobs. Other beneficiaries of the agreement were technology company Honeywell, construction equipment maker Caterpillar, and Westinghouse Electric, a nuclear power company that is a subsidiary of Japan’s Toshiba. The Chinese order is good news for Boeing, coming in the wake of another six month postponement to its new Dreamliner plane. It may also help to tip the balance away from European arch-rival Airbus, who recently announced a late rush of December orders had helped it beat Boeing with a 52% market share last year. – BBC