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Boeing to sell 300 jets to China, build plant

Staff writer |
Boeing has signed deals to sell 300 aircraft to three Chinese firms and set up an aircraft plant in China, Xinhua news agency reported.

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The aircraft deals, potentially worth tens of billions of dollars in total, are collectively the largest order the aerospace firm has received from Chinese companies.

China's ICBC Financial Leasing Co, a unit of the Industrial and Commercial Bank of China, on Wednesday separately confirmed it will buy 30 of Boeing's 737-800 jets, worth $2.88 billion at list prices.

China Aviation Supplies Holding Company and China Development Bank Leasing are the other two customers for the aircraft, said Xinhua.

Boeing, which is locked in a fierce battle for plane orders with European rival Airbus, will build its first aircraft completion plant outside the United States in China in order to gain a foothold in that important market, say industry observers.

Boeing raised its forecast for China's aircraft demand by 5 percent in August, saying that the country will need 6,330 planes over the next 20 years.

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