China, France prioritize partnership in third-party markets

China and France agree to deepen financial cooperation to provide support for exploring third party markets and expand industrial cooperation in fields including aviation and space, high-speed railway, steel, nuclear, oil and hydro power.

Chinese Premier Li Keqiang on Tuesday agreed with his French counterpart Manuel Valls on expanding cooperation in industry, energy and third party markets.

The two sides also signed a landmark multi-billion-dollar deal that paves the way for a second European aircraft plant in China, the world's fastest-growing aviation market.

Li, who is on a four-day official visit to France, said the two countries should deepen financial cooperation to provide support for exploring third party markets and enhance exchanges and cooperation in supervising their banking sectors.

He suggested that the two sides should deepen industrial cooperation in fields including aviation and space, high-speed railway, steel, nuclear, oil and hydro power.

The Chinese premier also called for more favorable conditions to facilitate trade and investment so as to push for a dynamic balance in bilateral trade.

For his part, Valls expressed his hope that France and China could strengthen their economic dialogue and deepen their cooperation in traditional areas including nuclear energy, aviation and space, agriculture and food production while speeding up interaction in such new areas as trilateral cooperation and eco-city building.

The French side, he said, appreciated China's actions in tackling climate change and is grateful for its efforts in working with France to prepare for the 2015 Paris climate change conference.

A landmark multi-billion-dollar deal was inked between the two countries during Li’s visit after China placed a landmark order on Tuesday for dozens of wide-body jets from Airbus, includes a definitive purchase of 45 A330 aircraft, worth at least $11 billion at list prices, plus plans for a possible further 30 worth about $250 million each.

Sources familiar with the discussions had told Reuters last week that China may purchase around 50-70 of wide-body jets in a breakthrough planes-for-investment deal.

Airbus has been negotiating for about 18 months to establish a cabin-completion centre for wide-body aircraft in China alongside its existing final assembly plant for smaller A320 jets at the northern port city of Tianjin.

Fabrice Bregier, chief executive of the plane making unit of Airbus Group, said Airbus would press ahead with the project, which is expected to cost around 150 million euros ($167 million).

"We are going to launch the project. I think we have a good base. We hope to have more orders in the future, but it's a project which makes a lot of sense and which gives us an advantage against our competition," Bregier told Reuters.

The agreement to build a plant capable of fitting out 2 A330s a month is due to be signed during a visit to Toulouse by Li on Thursday.