China and France signed nuclear, aviation and other contracts yesterday that officials said were worth around US$30 billion, an amount French President Nicolas Sarkozy called unprecedented.
"The total amount of these contracts has never been matched before," Sarkozy told his Chinese counterpart Hu Jintao (
The contracts included an 8 billion euro (US$11.9 billion) deal for the delivery of two third-generation nuclear reactors by French firm Areva, and an agreement worth more than US$17 billion for 160 Airbus planes.
PHOTO: AFP
The total amounts of the deals -- both in industries currently undergoing speedy expansion in China -- were given by Areva CEO Anne Lauvergeon and officials involved in the Airbus talks.
The long-anticipated Areva deal will see the French company deliver two European Pressurized water Reactors (EPRs) to China Guangdong Nuclear Power Corp (CGNPC).
"It's a record. In the history of the civilian nuclear industry, there's never been a deal of this magnitude," Lauvergeon said ahead of the official signing.
Areva and CGNPC also agreed to set up a company that will operate the two EPRs until 2026, the second agreement said.
In a third deal, CGNPC will take over 35 percent in the operations of three African uranium mines which Areva gained control over this summer after acquiring Canadian uranium producer UraMin.
The Airbus purchase includes 110 planes from the short-haul A320 family and 50 A330 wide-body passenger airliners, a source said.
Ten of the 50 A330s will go to China Southern Airlines which made that part of the deal public late last month.
The deal is welcome news to Airbus, which has struggled with a decline in the US dollar and delays with its A400M military transport aircraft and the A380 superjumbo that has wiped billions of euros off its profit.
The Chinese order stands to push Airbus past Boeing in total orders for commercial aircraft.
Boeing said last week it had received 1,047 commercial airplane orders this year, already beating last year's record-setting total of 1,044 orders. Airbus had logged 1,021 commercial jet orders as of the end of last month, the most recent data available on the company's Web site.
RESOLUTE BACKING: Two Republican senators are planning to introduce legislation that would impose immediate sanctions on China if it attempts to invade Taiwan US House of Representatives Speaker Mike Johnson on Sunday reaffirmed US congressional support for Taiwan, saying the US and “all freedom-loving people” have a stake in preventing China from seizing Taiwan by force. Johnson made the remarks in an interview with Fox News Sunday on US President Donald Trump’s summit with Chinese President Xi Jinping (習近平) last week. In an interview that aired on Friday on Fox News, just as Trump wrapped up a high-stakes visit to China, he said he has yet to green-light a new US$14 billion arms package to Taiwan and that it “depends on China.” “It’s a very good
DRONE CENTRAL: Taiwan aims to become Asia’s democratic hub for drones, with most exports focused on high-quality military-grade models, an official said Taiwan’s drone industry is expected to expand significantly by 2030, producing 100,000 units per month and exporting half of them, the Ministry of Economic Affairs said yesterday. Current drone production capacity is about 15,000 units per month, but the industry can quickly scale up as demand increases, Industrial Development Administration Director-General Chiou Chyou-huey (邱求慧) told a news conference in Taipei. Taiwan’s drone output grew 2.5-fold last year to NT$12.9 billion (US$408.3 million) under a government program to develop the uncrewed vehicle sector, he said. The Executive Yuan in October last year approved plans to invest NT$44.2 billion into domestic production of uncrewed aerial
WARNING: China should stop engaging in actions that undermine regional peace and stability, as it would only build resentment among people across the Strait, the CGA said China has deployed more than 100 navy, coast guard and other vessels in waters from the Yellow Sea to the South China Sea and the western Pacific since US President Donald Trump and Chinese President Xi Jinping (習近平) met in Beijing, National Security Council Secretary-General Joseph Wu (吳釗燮) said yesterday. “In this part of the world, #China is the one & only PROBLEM wrecking the #StatusQuo & threatening regional peace & stability,” Wu wrote on X. In a separate post, he said Beijing was coercing Taiwan’s maritime domain, calling it illegal and provocative, after the Coast Guard Administration (CGA) expelled a
US President Donald Trump yesterday said he would speak to President William Lai (賴清德) as his administration considers whether to move ahead with a US$14 billion weapons sale to Taiwan — a potential arms deal that has drawn criticism from China. “Well, I’ll speak to him. I speak to everybody,” Trump told reporters yesterday when asked if he had any plans to call his counterpart, although he did not offer a time frame for when such a conversation could take place. Trump previously said he would speak to the person “that’s running Taiwan,” without specifying who he meant. “We have that situation very
RSS