Saudi Press

Saudi Arabia and the world
Saturday, Jun 21, 2025

Airbus to open second China assembly line, double output 

Airbus will open a new assembly line in China doubling its capacity in the world’s second-largest aviation market.

Airbus Chief Executive Guillaume Faury signed agreements on Thursday to open the assembly line and formalize earlier orders for passenger jets.

The two agreements were signed in front of reporters during a state visit by French President Emmanuel Macron to Beijing.

The number of aircraft involved in the “general terms agreement” formalizing previous orders was not immediately disclosed.

Airbus last year reported the sale of 292 aircraft to China.

China accounts for up to a quarter of Airbus and Boeing deliveries in a normal year. China used to split jet purchase deals between Airbus and Boeing but deals with the US planemaker have slowed amid rising tensions between Beijing and Washington.

Economic growth
The rebound of China’s economy will be further consolidated and tax revenues in the second quarter will likely grow faster, but the economy still faces many uncertainties at home and abroad, the taxation administration said on Thursday. The country’s economy grew 3 percent last year, the weakest in nearly half a century. Beijing has set a modest target for economic growth of around 5 percent for this year.

Business entities are likely to get cuts in fees and taxes totaling more than 1.8 trillion yuan ($261.62 billion) this year, Wang Daoshu, an official at the state taxation administration office, said at a news conference.

To spur growth in 2022, China cut fees and gave credit rebates on tax to private businesses that were hit hard by stringent COVID-19 lockdowns and curbs. In 2022, the tax and fee cuts, tax refunds and deferred payments totaled 4.2 trillion yuan, according to the Finance Ministry. That included 2.4 trillion yuan in value-added tax rebates, the largest in recent years.

Yuan eases

China’s yuan eased against a rising dollar on Thursday, while investors were anxiously awaiting US non-farm payrolls for more clues on the US monetary tightening trajectory.

Currency traders said the yuan has been swinging in a thin range between 6.85 to 6.9 per dollar since mid-March as market participants were cautiously looking for the next catalyst. And the US jobs data due on Friday could affect the Federal Reserve policy outlook and bring volatility to the dollar and other major currencies, they added. Prior to market opening, the People’s Bank of China set the midpoint rate at 6.8747 per dollar, 48 pips weaker than the previous fix of 6.8699.

Services activity

China’s services activity in March revved up at the quickest pace in 2-1/2 years on robust new orders and job creation and a consumption-led post-COVID recovery, a private-sector survey showed on Thursday.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
×