Airbus announced today that it signed contracts to sell 160 commercial passenger jets to China in a deal worth around $14.8 billion. The assembly line in the Chinese city of Tianjian is due to deliver its first aircraft in early 2009. The plant is expected to be able to produce four A320s a month by 2011 and a total of about 300 A320 planes by 2016

The order includes 110 of the European company’s A320 jets and 50 of the slightly larger A330 planes, Airbus officials said in Beijing, where they were accompanying French President Nicolas Sarkozy on his first state visit to the Asian trading giant.