| Follow us on:
|
The two BRICS members also signed a $1.3 billion sale of 22 Brazilian Embraer jets to China's Tianjin Airlines.
The contract win will boost to Beijing’s bid to improve connectivity with Russia and Europe.
This is the third round of rate cuts by the PBOC following one in November 2014 and another in March 2015.
HSBC said the growth was supported by further expansion in new business.
A slowing manufacturing industry reinforces expectations that Central Banks in both India and China will again cut interest rates soon.
The new line of helicopters will be built in China with materials and technologies provided by Russia.
The deals were inked ahead of the upcoming 6th Ministerial Conference of the Forum on China-Africa Cooperation.
China's industrial profits shrank by 2.7 per cent in the first quarter to 1.25 trillion yuan.
