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China set to unveil deals for cars, components-WSJ

NEW YORK, Nov 12 (Reuters) - A Chinese trade group plans to
unveil deals on Wednesday calling for millions of dollars of
U.S.-made automobiles and components from General Motors Corp.
<GM.N>, Ford Motor Co. <F.N> and other companies, to be sold to
China, The Wall Street Journal said on Wednesday.
Separately, General Electric Co. <GE.N> will supply engines
for 30 Boeing Co. <BA.N> 737 planes as part of a
multibillion-dollar deal with several Chinese airlines, the
paper reported.
Officials with the companies could not be reached for
comment early on Wednesday.
The deals are part of a number of agreements expected to be
announced this week and come at a time when China is under
growing pressure to buy American and narrow its trade surplus
with the U.S., the paper reported, citing people familiar with
the agreements.
The agreements are expected to be announced in Detroit by a
Chinese delegation headed by Vice Minister of Commerce Ma
Xiuhong, the paper said.
GM and the Chinese officials could also announce formal
approval of GM's plans to start selling Cadillac cars in China,
by exporting vehicles from the U.S. and by shipping component
kits to China for final assembly there, the Journal said.
Ford is expected to announce agreements to expand
significantly shipments of vehicles to China, the report said.
((Reporting by James Paton, editing by Josephine Ng; Reuters
Messaging: [e-mail], 646-223-6000))

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Nov-12-2003 06:20 GMT
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