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NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. China's Hu signs deals, discusses G20 with Sarkozy Tweet This Share on LinkedIn Share on Facebook By Daniel Flynn and Kevin Yao PARIS (Reuters) - Chinese President Hu Jintao oversaw the signing of multi-billion dollar aircraft and nuclear fuel contracts with French companies on Thursday and pledged close cooperation as Paris prepares to take... Related News UPDATE 3-China's Hu signs deals, discusses G20 with Sarkozy 2:21pm EDT China's Hu to discuss G20 agenda with France's Sarkozy Wed, Nov 3 2010 Total, AXA to sign China deals - French official Wed, Nov 3 2010 PREVIEW-Sarkozy to woo China's Hu ahead of G20 summit Wed, Nov 3 2010 China high on agenda for Obama's Asia tour-aide Tue, Nov 2 2010 Analysis & Opinion Obama’s India visit should affirm New Delhi’s global role Liu who? UN’s Ban silent on rights during China visit Related Topics World » China Labor Unrest » China » France » Aerospace & Defense » Stocks France's President Nicolas Sarkozy (R) shakes hands with China's President Hu Jintao as he arrives at the Elysee Palace in Paris November 4, 2010. Credit: Reuters/Philippe Wojazer By Daniel Flynn and Kevin Yao PARIS | Thu Nov 4, 2010 2:25pm EDT PARIS (Reuters) - Chinese President Hu Jintao oversaw the signing of multi-billion dollar aircraft and nuclear fuel contracts with French companies on Thursday and pledged close cooperation as Paris prepares to take over the G20 presidency. As Hu kicked off a two-nation European visit aimed at smoothing trade tensions, Chinese officials signed contracts to buy 102 Airbus planes and deals with Areva to build a nuclear-fuel treatment factory in China and supply uranium over 10 years. The contracts totaled $20 billion. Chinese Deputy Foreign Minister Fu Ying said Hu had given his backing to President Nicolas Sarkozy's agenda for the G20 presidency, and also said China would double its annual trade with France to $80 billion over the next five years. Hu's three-day state visit to France, after which he travels to Portugal, comes at a time when EU leaders have closed ranks with Washington in urging China to allow its yuan currency to appreciate more quickly, unsettling relations between Beijing and Brussels. China hopes the trip will ease those strains ahead of a G20 leaders summit in South Korea next week which will focus on global economic imbalances. In turn, Sarkozy's government, which takes up the G20 baton after the Seoul summit, wants to build common ground for its ambitious agenda of reforming the global monetary system, while avoiding alienating China by harping on about the yuan. "Under the current international situation that is undergoing profound and complicated changes, China and France share broad common interests and huge potential for cooperation," Hu said in a written statement on his arrival. Paris has said its G20 agenda of diversifying global currency reserves away from the dollar and stabilizing volatile commodity markets hinges on the support of the world's No. 2 economy. Sarkozy and his wife, former model Carla Bruni, received Hu with full military honors at Paris's Orly airport. Hu's cavalcade, escorted by a formation of motorcycle escorts and the Republican guard on horseback, then swept down the historic Champs Elysees en route to the exclusive George V hotel. "China should not be seen as a risk but an opportunity," Sarkozy said ahead of Hu's arrival. "It's not by reproaching people for things that you make progress.... We're going to sign very important contracts and start very important talks on the eve of France's G20 presidency." Ahead of a formal state dinner, Sarkozy and Hu presided over the signing of four contracts with EADS subsidiary Airbus, including with Air China, China Eastern and China Southern, and a deal with Total for a petrochemical plant. French officials billed it as the biggest corporate investment signing ceremony by China with a European leader. BILLIONS IN CONTRACTS The trip caps a rehabilitation of Sino-French ties since Sarkozy outraged Beijing in 2008 by meeting the exiled Dalai Lama, prompting some Chinese citizens to boycott French goods. 1 2 Next World China Labor Unrest China France Aerospace & Defense Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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