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FOR IMMEDIATE RELEASE
Thursday, November 11, 2017
News Media Contact:
Office of Public Affairs, 202-482-4883
U.S. Secretary of
Commerce Wilbur Ross Announces Hundreds of Billions in Deals Between U.S.
Companies and Chinese Entities
BEIJING,
CHINA -- Today, U.S. Secretary of Commerce Wilbur Ross announced the signing of
approximately a quarter trillion dollars in deals facilitated by the Department
of Commerce between private U.S. businesses and Chinese entities. The
agreements, most of which occurred as part of the U.S. Department of Commerce’s
2017 U.S. CEO Delegation to China, will bring thousands of new jobs to America.
“American
businesses are the most innovative in the world, and, when given access, can
compete with anyone,” said Secretary Ross. “I believe these deals can provide a
solid foundation for a stronger relationship that is more free, fair, and
reciprocal between the U.S. and China.”
Addressing
the imbalance in U.S.-China trade has been a central focus of discussions
between President Trump and President Xi since their first meeting at
Mar-a-Lago in April. Today they joined
each other at the Great Hall of the People to witness the signing of fifteen of
the largest agreements.
“It
was a great honor for these to be witnessed by President Trump and President Xi
today,” continued Secretary Ross. “A
special thank you to our CEO Delegation for their hard work in support of this
historic event,” continued Secretary Ross.
The
Delegation participated in two days of productive exchanges with Chinese
businesses and government officials where they advocated for American business
interests. They also established
relationships that will pay dividends far into the future.
Below
is a list of the trade and investment deals signed by U.S. companies and
Chinese entities. Some deals do not have publicly disclosed dollar values, and
the Department of Commerce will not release confidential figures pertaining to
the deals it facilitated. For additional
information regarding specific agreements, please contact each company.
Please click HERE for descriptions of each deal.
These 2017 U.S. CEO Delegation to China deals include:
• Air Products (APD) Air Products and Yankuang Group Co., Ltd. – $3.5 billion
• The State of Alaska, Alaska Gasline Development Corporation (AGDC), China Petrochemical Corp (Sinopec), China Investment Corporation (CIC), and Bank of China (BOC) – $43 billion.
• Archer Daniels Midland Company (ADM) and COFCO
• Bell and Reignwood signed an agreement for 60 Bell 505s, valued at $50 million.
• Boeing and China Aviation Supplies Holding Company -- $38 billion.
• Caterpillar Inc, and China Energy Investment Corp
• Cheniere Energy and China National Petroleum
• Dais Analytic Gouanrui (Beijing) Technology Co., Ltd
• Delfin Midstream and China Gas Holdings – $8 billion
• Digit group and Gateguard – $100 million
• Digit group and Foton – $310 million
• Digit Group and HeDa Group – $1.5 billion
• The Dow Chemical Company
• Dow and Mobike
• Drylet, LLC and Nanjing Hoyo Municipal Utilities Investment and Administration Group – $100 million
• GE and Juneyao Airlines – $1.4 billion
• GE and ICBC – $1.1 billion
• GE and China Datang Group – $1 billion
• Goldman Sachs China Investment Corporation (“CIC”) – $5 billion
• Honeywell and Oriental Energy
• Honeywell and Spring Airlines
• I. M. Systems Group, Inc. (IMSG) and Civil Aviation Telecom Co., Ltd.
• Qualcomm and Xiaomi, Oppo and Vivo – $12 billion
• SAS and Shenzhen Zhenghong Technology Co. Ltd. – $30 million
• Stine Seed China and Beijing W. Seed – $10 million
• TEREX and Xuzhou Handler – $250 million
• Thermo Fisher Scientific, Beijing Municipal Commission of Science and Technology, Tsinghua University, Beijing Novogene Bioinformatics Technology Co., Ltd, and Innovent Biologics (Suzhou) Co., Ltd – $35 million
• U.S. Soybean Export Council (USSEC) and the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-products (CFNA) – $3.4 billion
• Viroment and Hangzhou Iron and Steel – $800 million
• Viroment and Guangye Guangdong Environmental Protection Group, Co, LTD. – $100 million
• Westinghouse Electric Company, Nuclear Power Technology Company (SNPTC) and subsidiaries, State Nuclear Power Engineering Corporation (SNPEC) and State Nuclear Power Automation & Engineering Company (SNPAS)
Non delegation deals:
• American Ethane and Nanshan Group – $25 billion
• Ford Trading Company LLC. And Ford Motor (China) Ltd. – $10 billion
• GM and SAIC-GM – $2.2 billion.
• The Montana Stockgrowers signed and Jingdong Century Trade Company (JD.com) – $200 million. Smithfield Food Inc.
• Smithfield Food Inc and Jingdong Century Trade Company (JD.com) – $1 billion.
• The state of West and Shenhua corporation – $83 billion
Please click HERE for descriptions of each deal.
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