A long list of U.S. companies announced $250 billion worth of business deals in China, coinciding with President Donald Trump’s visit with Chinese President Xi Jinping.
Continue Reading Below
One of the highlights was Boeing (BA), which reached a $37 billion agreement to sell 300 planes to China. It was unclear if the deal was part of a prior announcement from Boeing that it would sell hundreds of jets to undisclosed buyers.
General Electric (GE) scored three deals in China valued at a combined $3.5 billion. Chip maker Qualcomm (QCOM) said it reached three non-binding transactions to sell $12 billion in semiconductors to Xiaomi, Oppo and Vivo over the next three years. Ford (F) and its Chinese partner, Anhui Zotye Automobile, agreed to invest $756 million in a joint venture to build electric cars. The joint venture was initially revealed in August.
Some of the pacts announced on Thursday were in the works for some time. Other deals are preliminary, and they could change before they are finalized.
Here’s a look at some of the top deals with China:
The aerospace giant will sell 260 737s and 40 787s and 777s to China Aviation Supplies Holding Co. in a deal worth $37 billion.
Continue Reading Below
The conglomerate reached three deals with Chinese companies. Combined, the deals are worth $3.5 billion.
Goldman Sachs and China Investment Corp. plan to create an industrial cooperation fund, which will target $5 billion in commitments to invest in U.S. companies that operate in China or can develop business ties with the country. The fund is expected to support companies in the manufacturing, healthcare, consumer and industrial sectors.
China Energy Investment Corporation Limited plans to invest $83.7 billion in shale gas and chemical manufacturing projects in West Virginia, according to the state’s commerce department.
Alaskan liquefied natural gas
Sinopec, a Chinese state-run oil producer, will help develop Alaska’s liquefied natural gas sector. Alaska Gasline Development Corp. signed a $43 billion deal with Sinopec, Bank of China and China Investment Corp. The move will create up to 12,000 jobs during the project’s construction phase.
The American soybean industry obtained letters of intent from Chinese importers that plan to purchase $5 billion worth of soybeans through 2018.
JD.com (JD), a Chinese e-commerce company, plans to buy U.S. agriculture and food products for $2 billion over the next three years. The deal includes $1.2 billion in Montana beef and Smithfield Foods pork.
Textron’s (TXT) Bell Helicopter will sell an addition 50 Bell 505 helicopters to Reignwood International, which will serve as the aircraft’s exclusive reseller in China.
Oriental Energy agreed to use Honeywell (HON) for projects to convert propane into propylene. Spring Airlines has partnered with Honeywell to use the company’s cockpit technologies and auxiliary power units in aircraft.
Dow (DOW) and Mobike, a bike-sharing company in Shanghai, signed a memorandum of understanding to create lighter-weight bikes.
Caterpillar (CAT) and China Energy Investment Corp. reached a five-year strategic agreement for mining equipment sales and rentals, product support and technology.