Chinese and French companies will sign some US$20 billion in contracts as part of President Hu Jintao’s visit to the European nation, the Financial Times reported. Beijing has also pledged to double the value of goods and services imported from France to US$80 billion a year over the next five years. Airbus (EAD.Euronext, EAD.FWB, EAD.BMAD) will sell 102 aircraft – of which 66 are new orders – to China Aviation Supplies in a deal worth US$14 billion. Areva (CEI.Euronext) signed agreements with China Guangdong Nuclear Power and China National Nuclear Corp worth US$3.5 billion that will see it supply 20,000 metric tons of uranium over 10 years. It will also cooperate with China on the development of used fuel and recycling facilities. Total (TOT.NYSE, FP.Euronext) and China Power said they would invest US$2.8-3.4 billion in a coal-based petrochemical plant in Inner Mongolia, while Alcatel-Lucent (ALU.NYSE, ALU.Euronext) signed equipment supply contracts worth a total of US$1.1 billion with China’s three major telecom operators.
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