German companies are hoping to sign contracts worth well over €1bn next week when Gerhard Schröder, the chancellor, visits China on his sixth official trip to Asia's fastest-growing economy.

An aide to Mr Schröder said yesterday final work was under way on the sale to Air China of 23 Airbus aircraft, a deal that would be worth up to €1bn ($1.33bn, £690m). Siemens, the engineering group, had already secured a €360m deal on the sale of 180 locomotives. Other large contracts are being finalised.