(GE and China Southern Airlines signs a MOU at Airshow China 2016)
General Electric Co, the US-based leading digital industrial company, signed three commercial deals worth $3.5 billion with Chinese firms during US President Donald Trump's first official visit to China.
The agreements, two in the aviation sector and one in power generation, underscored the strength of commercial partnerships between the world's two largest economies.
John Rice, the vice-chairman of GE, who is part of Trump's business delegation to China, said the deals constitute an important step forward for GE in China, already its largest single-country market outside the US.
Key highlights of the signed deals included:
Juneyao Airlines, a subsidiary of Juneyao Group, reached an agreement with GE for the order of GEnx-1B engines to power its 10 Boeing 787-9 aircraft. The engine order is valued at $1.4 billion at list price. The aircraft will be delivered starting in 2018.
ICBC Leasing, a wholly-owned subsidiary of ICBC Group, the largest commercial bank in the world, today reached an agreement with CFM International for the order of 80 LEAP-1B engines to power 40 Boeing 737 MAX aircraft. The engine order is valued at nearly $1.1 billion at list price. ICBC Leasing is scheduled to begin taking delivery in 2018.