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Bevy of U.S.-China business deals tied to Hu’s visit

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Chinese President Hu Jintao, who arrived in the United States on Tuesday for a four-day visit, was expected to bring a host of business deals and purchasing commitments with him, Reuters reported.

A Chinese business delegation and the U.S. government have already announced deals ranging from wind turbines to electric vehicle batteries, and more are expected during the week. Here are some of the deals announced so far:

Alcoa Inc. and China Power Investment Corp. announced a collaboration on aluminum and clean-energy projects on Tuesday that could lead to as much as $7.5 billion in investments, the U.S. Department of Energy said.

Duke Energy Corp, AES China, a subsidiary of Virginia-based AES Corp, and Florida’s UPC Management also entered into clean or renewable-energy projects with Chinese companies. UPC’s Brian Caffyn said the company signed a deal for a joint venture with China Guodian Corp. to develop and operate one gigawatt of wind projects in China, an estimated $1 billion investment that will take about three years to complete.

New York-based battery maker Ener1 signed a joint venture with Wanxiang Group to make electric vehicle batteries for sale in China. Ener1 plans to expand its U.S.-based research and development and engineering staff as a result of the deal, the Energy Department said.

On Thursday, a Chinese delegation will sign agreements in Chicago to buy an unspecified amount of U.S. soybeans, the U.S. Soybean Export Council said. A similar purchase agreement ceremony in 2008 led to the largest reported single-day export sale of U.S. soybeans in history.

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