The orders were already in the Boeing /quotes/comstock/13*!ba/quotes/nls/ba (BA 71.76, +0.64, +0.89%) commercial backlog, but required Chinese government approval before payment and delivery. Delivery of the jets begin later this year and through 2013.
“This is the largest announcement of Chinese government approval of a Boeing commercial airplane order,” said Boeing spokesman Marc Birtel, in an email.
Securing the deal followed a long period of negotiations between the U.S., Boeing and China that likely included offsets, such as an agreement to purchase certain goods or services from the buyer, or to directly invest in the country’s economy.
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