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China and France sign deals worth $15 billion

By Ramla Soni
November 6, 2019, 2:56 PM GMT
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    Deals in aeronautics, energy and agriculture secured during the French President’s visit to China

    China and France have signed contracts worth $15 billion (£11.65 bn, €13.5 bn) during a visit by French president Emmanuel Macron, a Chinese government official told a news briefing.

    Macron arrived in China on Monday 4 November seeking new business and climate deals with China.

    Deals are said to have been shaken on in the fields of aeronautics, energy and agriculture, including approval for 20 French companies to export poultry, beef and pork to China.

    Macron and Chinese president Xi Jinping also agreed to expand a protocol for poultry exports to include duck, geese and 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.

    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, Reuters stated.

    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.

    Furthermore, Jinping and Macron reaffirmed their strong determination to improve international cooperation on climate change.

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