Airbus has signed with the China Aviation Industry Corporation a contract valued at US$500 million, the China Securities News reported Wednesday.

This is so far the biggest deal signed between Airbus and China's aviation industry, the report said.

Under the deal, the two sides will continue expanding cooperation on producing wings for Airbus A320 aircraft.

Thus far, five Chinese aviation companies directly take part inthe production of spare parts for Airbus.

In accordance with a contract signed by Airbus and the China Aviation Industry Corporation in 1999, Airbus would gradually transfer technologies for producing A320 wings and the production lines to China so that China can master the technologies for producing wings for Airbus A320 aircraft by the end of 2007.

(Xinhua News Agency November 16, 2005)