France signed 15 major business contracts with China as part of Chinese President Xi Jinping‘s visit to Paris on 25 March.
Included in the list of contracts is a €30 billion deal for 300 planes from Franco-German aerospace giant Airbus. Also included in the deal is a €1 contract between France’s Fives and China National Building Materials Group to cooperate on energy savings in developing countries.
Top Chinese officials recently said Beijing is ready to open up the country’s economy to more market-based competition and international trade. The Chinese economy is suffering both by decelerating export growth and declining business confidence.
Han Zheng, a member of the Communist Party’s Politburo Standing Committee, said China is ready to increase imports rather than aim for an ever-surging trade surplus.
French President Emmanuel Macron called for a “strong Europe-China partnership”, which should be based on “strong multilateralism” and “fair and balanced” trade.