Boeing announces record $38 bln deal with China

Boeing Co on Wednesday announced a record deal with a group of Chinese firms for 300 aircraft worth about $38 billion at list prices, according to Reuters.

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The order, announced as Chinese President Xi Jinping visited Boeing's Everett, Washington, factory, includes some planes that were previously ordered but for which the buyers had not been identified, Reuters said.

Boeing declined to say how many planes had been previously ordered, leaving uncertainty about the total value.

In recent years, Chinese airlines have placed big orders for airplanes from Boeing and Airbus. In particular, in 2014, China Eastern Airlines announced it had ordered 80 Boeing 737 planes worth about $7.4 billion.

Boeing is battling with Airbus Group for dominance of Chinese market, which Boeing says will need $1 trillion worth of new planes over the next two decades, Reuters said.

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