China and France sign deals worth $15 bln during Macron’s visit

French President Emmanuel Macron shakes hands with China’s President Xi Jinping after a joint news conference at the Great Hall of the People in Beijing, China on November 6. (Reuters)

China and France signed contracts totaling $15 billion during a visit by President Emmanuel Macron, a Chinese government official told a news briefing on Wednesday.

Deals were struck in the fields of aeronautics, energy and agriculture, including approval for 20 French companies to export poultry, beef and pork to China.

They also agreed to expand a protocol for poultry exports reached this year to include duck and geese as well as foie gras, and to work on a protocol allowing France to export pig semen to China, according to a statement from the French president’s office.

Macron arrived in China on Monday and was due to leave later on Wednesday.

Energy deals included a memorandum of understanding between Beijing Gas Group and French utility Engie to collaborate on a liquefied natural gas terminal and storage in the northern city of Tianjin.

An executive with Beijing Gas Group told Reuters that the cooperation with Engie would include the French firm supplying membrane technology, used for gas leak prevention, in the massive gas storage projects that China is embarking on.

Among other deals, France’s Total will set up a joint venture with China’s Shenergy Group to distribute LNG by truck in the Yangtze River Delta.

The two countries also agreed to reach an agreement by the end of January on the cost and location of a nuclear fuel reprocessing facility to be built by Orano, formerly known as Areva.

Previous plans to build the plant in Lianyungang in eastern China’s Jiangsu province were cancelled after protests.

Separately, Chinese state news agency Xinhua said China would support its firms’ purchases of Airbus aircraft.

Xinhua said the two countries agreed to work together to push forward the completion and delivery center program of the European planemaker’s A350 model, as well as step up investment by Airbus in China.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54
Top