British, Chinese firms seal major aviation deal
A 1.2 billion dollar deal between British jet engine maker Rolls-Royce and Hainan Airlines of China was announced Friday as British and Chinese firms signed deals worth up to 1.9 billion dollars.
The announcements, sealed at a ceremony in London attended by China's Trade Minister Chen Deming and Britain's Business Secretary Peter Mandelson, came on the last leg of a Chinese trade tour of Europe.
The 1.2 billion dollar (950 million euro) deal is for the purchase of Rolls-Royce jet engines and a service contract for Hong Kong Airlines planes, it was announced.
Afterwards, Chen said all the deals underlined China and Britain's joint commitment to the "fight against protectionism."
"We're probably facing the most serious economic situation ever since the Great Depression," he said.
China's economy "is also seriously negatively affected" and the situation "unprecedented", the minister said.
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