GE nears deal for Chinese-built regional jets

General Electric Co. is finalizing a contract to buy up to 25 regional jets manufactured by Commercial Aircraft Corp. of China Ltd., in a deal that could be worth as much as $750 million. The deal marks CACC's first overseas order, but GE plans to lease the planes back to domestic airlines in China. Over the next two decades, GE hopes to sell about $20 billion in engines to CACC, which plans to take on Boeing and Airbus with a 150-seat commercial jet by 2020.

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