BEIJING, Sept. 7 -- Premier Wen Jiabao and British Prime Minister Tony Blair, after three hours of wide-ranging discussion, yesterday oversaw the signing of a series of trade contracts including airline and banking deals.

Britain's Prime Minister Tony Blair, background, left, watches as from left, Iain Gray MD of Airbus UK, Phillipe Lim Vice President of Airbus China, and Si Xinmin Presidant of China Southern Airlines Ltd agree a purchase agreement for ten Airbus 330's, during the EU/China summit in the Great Hall of the People Sept. 6. (AP)

        The British leader initially met Wen on Monday at the annual EU-China summit, as Britain currently holds the six-month rotating EU presidency. Blair was present yesterday on the Sino-British leg of the trip.

    "I think it is fair to call our meetings in-depth, practical, frank and productive," Wen said. "I do believe that this is a very important visit, so that we can discuss our relations and major international and regional issues of common concern."

    Blair praised the approach China had taken during the two days, which included a settlement of a Sino-EU trade row that had left 80 million Chinese-made garments piled up in European ports.

    "The length of our meetings both yesterday (Monday) and today (Tuesday) gave us an opportunity to discuss issues in depth, but it has really been the frankness and openness of our discussions that have been most appreciated," Blair said.

    He said the chance to exchange views had made him "very content indeed."

    Trade and investment took up most of their time, but they also touched on other subjects such as human rights, China's market economy status, Taiwan and Hong Kong.

    The European aircraft maker Airbus signed a deal to sell China Southern Airlines 10 A330 planes yesterday. And Britain's Standard Chartered Bank signed an agreement to take a 19.99 per cent stake, worth US$123 million, in Bohai Bank - China's first national joint stock bank since 1996.

    The planes, worth about US$1.8 billion at list price, will be delivered in 2007 and 2008.

    Iain Gray, general manager of Airbus UK, said the eight A330-330s and two A330-200s would supplement four A330-200s that China Southern had previously ordered.

    The airliner sales will help protect 135,000 jobs in the United Kingdom, which makes the wings, landing gear and fuel systems, he said.

    Si Xianmin, president of China Southern, said the 10 additional jets would increase his company's capability and flexibility, especially in domestic trunk and regional routes.

    Standard Chartered Chairman Bryan Sanderson said: "We have been in China for 150 years. Now we're being allowed to do more and more."

    The UK is the largest European investor in China, spending US$12 billion in the country by the end of last year.

    At a breakfast meeting with Chinese investors yesterday, Blair predicted trade and investment between Britain and China could reach US$40 billion in the next five years.

    Praising Sino-British co-operation in UN reform, anti-terrorism, trade, investment, science and culture, Wen told Blair yesterday that the two countries should expand their co-operation in all fields.

    The two countries can co-operate to resolve global issues such as the UN reform, Millennium Development Goals, facilitating trade, WTO talks, poverty relief in Africa and world economy, Wen said.

    Blair said the multi-level dialogue between the UK and China created a sound environment for promoting bilateral relations, and his country would further co-operate with China in a bid to promote trade and economic ties.

(Source: China Daily)