China sign $15-bn deals with Germany

Chinese Premier Wen Jiabao yesterday signed deals worth more than $15 billion during a visit to Berlin where the leaders of the world's second and third largest economy pledged to double their annual trade by 2015.

In a joint news conference with Chancellor Angela Merkel in the German capital, Wen told reporters, "The contracts signed today represent more than $15 billion.''

German Chancellor Angela Merkel welcomed the deals and said she expressed expectation about trades improving between the two nations with a target of an annual volume worth $280 billion by 2015.

After their first joint meeting, the German and Chinese governments signed nearly 14 agreements, including an agreement to purchase 88 of A320 planes from European aircraft manufacturer Airbus - the largest order between the two countries at this round of meetings.

With around 575 A320 aircraft already in operation with 13 Chinese airlines as of May 2011,  Airbus said that China's order for 88 A320 planes.

Other contracts included an electric car project between German auto giant Volkswagen and its Chinese partner FAW and setting up a plant at Foshan.