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Boeing signs $500mn in China contracts

U.S. aviation giant Boeing announced agreements with Chinese suppliers for the production of commercial aircraft parts and components, including the first firm contracts with Chinese suppliers to build parts for the Boeing 747-8 Intercontinental Passenger and Freighter aircraft. The contracts are valued at an estimated US$500 million and include the 747-8 inboard wing flaps with Xi’an Aircraft Industry (Group) Company Ltd. (XAC), and ailerons and spoilers with Chengdu Aircraft Industrial (Group) Co. Ltd. (CAC), both affiliated to China Aviation Industry Corporation I