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To: Ramsey Su who wrote (11875)	6/29/1998 6:30:00 PM
From: Caxton Rhodes	Read Replies (1) \| Respond to of 152472

$400 Million for Mot and LU in China Monday June 29 7:28 AM EDT China signs deals with U.S. companies BEIJING (Reuters) - China announced Monday that deals with U.S. companies worth $3.1 billion had been signed in connection with the visit to China of President Clinton, including an $800 million order for Boeingaircraft. Deals worth $2 billion were signed Monday in a ceremony in Beijing's Great Hall of the People. Others worth $1.1 billion were signed prior to the visit which began last Thursday. Monday's deals included the Boeing agreement for 17 aircraft worth $800 million -- 16 B-737s and one B-747, according to Boeing officials. In addition, Boeing said a letter of intent was signed on 10 B-737s worth $400 million. Boeing President Ray Bracy said the 17 aircraft were among a fleet of 50 that China agreed to buy during a visit to the United States last October by Chinese President Jiang Zemin. The 10 others were new orders. "Fifty airplanes and the contracts being concluded in that short amount of time is really monumental," Bracy told reporters at the signing ceremony. Also Monday, General Electric Cosigned a $161.7 million deal to sell an integrated steam turbine system to China Huaneng Group, a Chinese government statement said. Chinese state energy giant Sinochem agreed to import two million tons of phosphate fertilizer worth $400 million from U.S. companies Phoschem, Cargill Inc and Hydro Farmland. Delivery details were not released. IBMChina Great Wall Computer Shenzhen Co Ltd and Shenzhen Kaifa Technology Co Ltd signed an deal to boost the capital in their joint venture Shenzhen Hailiang Storage Products Co Ltd by $76.85 million. In addition, U.S. company Dasibi Co inked an accord to sell air quality monitoring equipment worth $5 million to the State Environment Protection Administration. Atlantic Richfield Coand Philips Petroleum Co signed a $30 million cooperation agreement to explore for coalbed methane, a natural gas trapped in water deposits in coal seams. Deals worth $1.1 billion were signed immediately ahead of Clinton's nine-day visit. Affiliates of Oxbow Power Corp and Sithe Energies Inc agreed with Zhejiang Provincial Power Development Co and Wenzhou Power Investment Co Ltd to build and operate a 600 megawatt coal-fired plant worth $415 million near Wenzhou, in eastern Zhejiang province. Motorola Incand Lucent TechnologiesInc inked pacts worth more than $400 million in telecommunications deals. U.S. auto giant General Motors Corp last Monday signed an agreement to make pickup trucks and sports utility vehicles in a revamped China joint venture. Investment in the project with state-owned FAW-Jinbei Automotive Co in the northern city of Shenyang was boosted to $230 million from $132 million. China posted a trade surplus of $6.93 billion with the United States in the first five months of this year. The United States says China had a surplus of $50 billion in bilateral trade in 1997. However, China's General Administration of Customs puts the surplus at $16.4 billion.