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China is Buying 300 Boeing Jets

Shares of The Boeing Company (NYSE:BA) are just above break-even in the final half hour of premarket trading on Wednesday, after a very surprising deal was inked between Boeing and China. Under the deal, three Chinese firms have ordered 300 Boeing jets. China Aviation Supplies Holdings, ICBC Financial Leasing, and China Development Bank Leasing are said to be the three Chinese corporate entities that will receive the Boeing jets. However, the type of Boeing jet and the total amount of the deal have not been released, thus far. In addition to the string of new jet orders for Boeing, it was announced that Boeing will build an assembly plant in China as well. This news has propelled Boeing into China, which has long been dominated by rivals such as Airbus, which already has a presence in the country.

Commercial Aircraft Corporation of China signed cooperation agreement with Boeing for assembly plant in China

As mentioned above, in addition to the 300 jet order, Boeing was able to sign a cooperation agreement with the government owned Commercial Aircraft Corporation of China, or COMAC. The...


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