China’s President Hu Jintao and US President Barack Obama have signed a raft of bilateral business deals that will see around US$45bn of exports between the countries.

Some of the most notable deals include the purchase of 200 Boeing airplanes for US$19bn and a US$1.4bn deal for mining and construction equipment exports to China from US firm Caterpillar.

The Chinese president is positioned to lead China through one of its most significant transitions in history as the country shifts from an export economy to a consumer-driven economy.

“China is a key market for US exports […] these involve some of our country’s largest companies, but also an increasing number of small and medium-sized enterprises,” the Whitehouse says in a statement.

An extended list of deals signed can be found by clicking here.