French and Chinese firms ink deals on sidelines of Xi’s Paris visit

PARIS (Reuters) – French and Chinese companies signed on Monday deals ranging from energy, finance and transport on the sidelines of Chinese President Xi Jinping’s visit to the French capital.

WHY IT’S IMPORTANT

French President Emmanuel Macron and EU Commission chief Ursula von der Leyen urged Xi in Paris to ensure more balanced trade with Europe at a time of growing business tensions.

MAIN CONTRACTS

– Agreement to set up a global strategic partnership in the battery industry between Xiamen Tungsten New Energy and Orano.

– Memorandum of understanding between Envision and Suez.

– Supply contracts for electric traction systems between Alstom company and the New United Group for metro lines in Beijing and Wuhan.

– 3 partnership projects between EDF-SPIC, namely hydrogen production, installation of photovoltaic panels in Saudi Arabia, and maintenance of low-consumption public lighting in Wuhan.

– Memorandum of understanding between Fives and Envision for cooperation in the assembly of battery cells in France.

– Supply contract for the electric traction system for line 8 of the Hefei metro between Alstom-CRRC.

– Contract between the city of Dongguan and Suez for incineration of municipal sludge

– Renewal of the strategic MoU between the Bank of China and Credit Agricole.

– Support contract, still under discussion, between Safran Helicopter Engines and the private company General Dynamic Aero Technology Co. Ltd.(GDAT)

– Commitment of EDF and China General Nuclear Power Group (CGN) on the continuation and expansion of existing cooperation.