China and France sign deals as Hu Jintao visits Paris

SHASH2K2

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China's President Hu Jintao has signed billions of euros' worth of business deals during a state visit to France.

They included spending 10bn euros (£8.6bn; $14bn) on 102 Airbus planes, as well as telecoms and nuclear deals.

France's President Nicolas Sarkozy received his guest with full military honours, and has laid on an extravagant programme of events and ceremonies.

But activists complain that China's human rights record is being ignored in the rush to sign lucrative contracts.

Unusually for a three-day state visit, there will not be a joint press conference between the presidents, so there will be no opportunity for Western journalists to question Mr Hu on issues like Tibet, press freedom and the imprisonment of dissidents.

Business deals are the firm focus of the trip.

On Thursday evening, deputy Chinese Foreign Minister Fu Ying said investment contracts signed that day had already totalled 14bn euros, and said China planned to double the value of its annual imports from France to 56bn euros over the next five years.

The deals apparently included a 2.5bn-euro agreement with French nuclear giant Areva to supply uranium, and another to build a uranium treatment plant in China.

Also, Total said it was planning to invest 2-3bn euros in a Chinese petrochemical plant.

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It's not by reproaching people for things that you make progress"

President Nicolas Sarkozy
And the Franco-American telecoms giant Alcatel-Lucent said it was signing a 770m-euro deal with three Chinese operators - China Mobile, China Telecom and China Unicom.

"China should not be seen as a risk but an opportunity," Mr Sarkozy said ahead of Mr Hu's arrival. "It's not by reproaching people for things that you make progress."

Mr Hu said in a statement: "China and France share broad common interests and huge potential for co-operation."

France has made great efforts to mend relations with China after they nosedived two years ago.

Following a Chinese crackdown on Tibetan protesters in March 2008, President Sarkozy came close to boycotting the opening ceremony of the 2008 Beijing Olympics.

He eventually decided to attend, but incensed Beijing later that year when he met the Tibetan spiritual leader, the Dalai Lama.

China called off a summit with the EU and high-level contacts with France in protest.

Cosy restaurant
But the two countries patched up ties last year and Mr Sarkozy seemed determined to give Mr Hu a warm welcome, meeting him personally at Orly airport.


Campaigners hit the streets of Paris to protest against Chinese policy in Tibet
There was to be a state dinner with their wives on Thursday evening, a visit to the Arc de Triomphe, and then a cosy Provencal meal at a restaurant in Nice on Friday.

Between all these events there will be more meetings with business leaders and contract-signing ceremonies.

Mr Sarkozy will also be keen to address the issue of trade imbalances, amid rising concern around the world that China is keeping its currency artificially low, to benefit its exporters.

Mr Sarkozy is hoping to negotiate a deal on currency reform during France's presidency of the G20, which begins next week.

From France, Mr Hu will travel on to Portugal on Saturday,
http://www.bbc.co.uk/news/world-europe-11694214
 

Rage

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Wow, that's a huge deal!

Wonder what Airbus planes they're buying.

Nuclear energy too.

China's heft is truly starting to show.
 

SHASH2K2

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Looks like they are trying to counter our weapon diplomacy and also creating a few supporters as many countries are supporting moves against chinese currency.
 

badguy2000

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Looks like they are trying to counter our weapon diplomacy and also creating a few supporters as many countries are supporting moves against chinese currency.
hehe, different from India,CHinese tends to investment huge dollars on infrastructures and civilian goods ,instead of importing weapons.....
 

SHASH2K2

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hehe, different from India,CHinese tends to investment huge dollars on infrastructures and civilian goods ,instead of importing weapons.....
so what have you guys invested into there? importing planes?
 

amoy

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The demand is strong

China's Nuclear Power Building Boom
By: Travis Daub

The demand for emission-free nuclear electricity in China is growing as quickly as its megacities and middle-class expand. Some analysts estimate that China will need to build as many as 300 new nuclear power plants by 2050 -- a nuclear building boom so ambitious that it threatens to tax the world's supply of uranium to its limits. China currently has 17 nuclear reactors under construction or in the planning stages and 11 in operation. For comparison, the United States depends on 104 active reactors to provide about 20 percent of nation's electricity.
 

Armand2REP

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The trade deals are worth $22.8 billion in French products. The Airbus buy is for 50 A320, 42 A330 and 10 A350 worth $14 billion. $8 billion to the French economy. These will be the French models with Snecma engines. Nobody wants those crappy Rolls Royce after the Qantas debacle.
 
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Vladimir79

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hehe, different from India,CHinese tends to investment huge dollars on infrastructures and civilian goods ,instead of importing weapons.....
Who are you kidding? If it wasn't for that EU arms embargo, that order would include $14 billion in arms purchases.
 

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