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By Leng Cheng / Nov 08, 2018 05:12 PM / World

The deals would be carried out over the next five years, according to an official statement released on the Ministry for Trade, Tourism and Investment of Australia. Photo: VCG.

The deals would be carried out over the next five years, according to an official statement released on the Ministry for Trade, Tourism and Investment of Australia. Photo: VCG.

Australian and Chinese companies signed 11 deals worth AUD$15 billion ($10.8 billion) on Wednesday at the China International Import Expo in Shanghai, an event showcasing China’s willingness to buy more from other countries amid a deepening trade war with the U.S.

Notably, Fortescue Metals Group (FMG) signed iron ore supply and delivery agreements with state-owned Anyang Steel International Trading Co. Ltd., Baotou Steel International Economic and Trading Co., and Lingyuan Iron and Steel Co. Blackmores signed a deal with e-commerce platform JD.com to sell more health products.

All the deals would be carried out over the next five years, according to an official statement released on the Ministry for Trade, Tourism and Investment of Australia.

Simon Birmingham, Australia’s Minister for Trade, Tourism and Investment, said that the deals signed today indicate that “Australian companies can have confidence to invest more in their operations,” as well as show the “strong commitment of Australian companies to be part of China's economic transition and continuing success.”


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