Trump’s visit to China results in contracts worth more than $250bn

The total cost of US-China contracts signed during US President Donald Trump’s visit to China is $253.4bn, Chinese Minister of Commerce Zhong Shan has announced.

He said, the contracts were related mostly to the energy sector and machine building. For instance, the China Petroleum & Chemical Corporation intends to develop gas fields in Alaska. Joint projects will be implemented with support of the Bank of China, China Investment Corporation and other Chinese financial institutions.

President of the Chinese People’s Republic Xí Jìnpíng announced that the countries have a great potential in business cooperation. He said there are more fields for cooperation than for competition in economic collaboration of the two countries, the biggest developed and the biggest developing ones.