BEIJING, China - During French President Emmanuel Macron’s first state visit to China, Airbus managed to strike a deal to increase production in the Asian country.
According to reports, Airbus’ deal is aimed at increasing the number of planes it makes in China.
As part of the deal, Airbus is aiming to produce six of its A320 jets each month by 2020 at its final assembly plant near Beijing.
This was the French President’s first state visit of his eight-month-old presidency, and Macron stressed on greater openness from China, coupled with lobbying from the 50-strong business delegation traveling with him.
He said that at present, France has "access to markets which is unbalanced [and] unsatisfying.”
Addressing French and Chinese business leaders, he said, "If we don't deal with this responsibly, the first natural reaction will be to close up on both sides."
Airbus said that as part of the agreement, it will "enhance its industrial partnership in Tianjin" which is one of four global facilities that assemble the A320 family of planes, whose wings are made in the U.K.
Airbus added that it hopes to "strengthen the cooperation with regards to technical innovation, engineering capabilities and supply chain expansion.”
Currently, the company produces four aircraft a month at the facility.
However, it said this will rise to five by 2019 before reaching a monthly turnout of six jets by early 2020.
Airbus is one of a number of businesses travelling with Macron on his visit to China.
Macron has called on Europe to take a more coordinated approach to trade with China.