China Announces Purchase of 300 Boeing Planes During Xi Visit to Seattle
Boeing has announced that Chinese companies have agreed to buy 300 jets from Boeing. The 250 single-aisle 737s and 50 widebody jets carry a list price of about $38 billion.
The record order was announced as Chinese President Xi Jinping addressed about 600 Boeing employees inside an assembly bay at the Everett factory, just north of Seattle, Washington.
The deal, first reported by China's official Xinhua news agency, also calls for the U.S. aerospace giant to build a plant in China.
Earlier Wednesday, Xi met with a high-powered group of 30 CEOs from some of America's and China’s largest businesses.
CEOs of Boeing, Microsoft, Starbucks, Amazon, Apple, IBM and General Motors, among others, were in attendance as Xi reminded them that China economy’s was doing well with big growth potential and that his country is working on being more open and transparent.
Xi also touted the ties between the U.S. and China, saying that, as of August, 65,000 U.S. businesses were in China investing some $76 billion total. Chinese investment in the U.S. is rising, he said, with some 1,600 Chinese companies in 44 states, and that those companies directly created 80,000 full-time jobs.
In what was billed as a major policy speech late Tuesday as he began his week-long tour of the United States, President Xi called for better relations with Washington.
"If China and the U.S. cooperate well, they can become a bedrock of global stability," Xi said. "Should they enter into conflict or confrontation, it would lead to disaster for both countries and the world at large."
Volkswagen CEO Resigns Over Pollution Controls on Millions Diesel Vehicles
Volkswagen CEO Martin Winterkorn resigned Wednesday amid a scandal in which the German carmaker admitted to have tampered with emission controls on 11 million diesel vehicles to pass pollution tests.
Winterkorn made a public statement taking responsibility for the “irregularities” detected in diesel engines, but said that he was “not aware of any wrongdoing.”
“Volkswagen needs a fresh start, also in terms of personnel,” Winterkorn said. “I am clearing the way for this fresh start with my resignation.” He also said that Volkswagen should continue the process of “clarification and transparency.”
Friday, U.S. regulators of the Environmental Protection Agency (EPA) said Volkswagen had equipped about 500,000 diesel cars in the United States with software that switched anti-pollution controls on during tests, but shut off the devices during normal driving.