The agreements include orders and commitments for 300 Boeing narrow-body and wide-body aircraft and expanded collaboration between Boeing and China's commercial aviation industry.
Together, Boeing and China committed to further advance development of China's commercial aviation industry and meet strategic business objectives for Boeing in the world's largest airplane market going forward.
President Xi, accompanied by Boeing executives, viewed final assembly lines for the 787 Dreamliner, 777 and 747-8, as well as aircraft components made by Chinese aviation suppliers. The President also spoke with Boeing employees and the 787 Chief Pilot about their work on airplanes built for Chinese carriers.
Boeing President and CEO Dennis Muilenburg said: “Today's visit by President Xi represents a new chapter in the valuable relationship between Boeing and China," Muilenburg said. "Boeing is committed to further strengthening and deepening our partnership with China in mutually beneficial ways that will bring positive outcomes to Boeing and our Chinese partners.”
Boeing and China Aviation Supplies Holding Company (CASC) have signed a General Terms Agreement related to the purchase of 300 airplanes. The package has a value of approximately $38 billion at list prices.
Aircraft orders and commitments include: (240) airplanes for Chinese airlines, including (190) 737s and 50 widebody aircraft; (60) 737s for leasing companies ICBC and CDB Leasing
Furthermore, Boeing and Commercial Aircraft Corporation of China, Ltd., (COMAC) will partner to open a facility in China for the interiors completion, paint and delivery of Boeing 737 aircraft to Chinese customers.
Boeing, COMAC and Chinese government officials are working toward a final business agreement and will announce the facility's location and timing of first deliveries at a later date.
Meanwhile, Boeing and Aviation Industry Corp. of China (AVIC) will broaden their long-term collaboration to support Boeing's commercial airplane programs. In a framework agreement, the companies said they intend to further advance AVIC's manufacturing capabilities by adding major component and assembly work packages; strengthening leadership; and developing AVIC's broad aviation infrastructure and business practices, including supply chain management.
Under the framework of the MOU, Boeing and NDRC announced a new initiative to turn agricultural waste in China into sustainable aviation biofuel. Boeing will partner with NDRC to turn items from farms, such as corn cobs and wheat stalks, into sustainable jet fuel as a way to reduce aviation's carbon emissions.