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News Summary: China, California sign trade deal

The Associated Press

SEEKING CLOSER TIES: California and China will try to find more ways to boost trade and investment, particularly in the infrastructure, environmental protection, agriculture and bio- and information technology sectors.

SINGING THE PRAISES: The agreement is part of a seven-day trade mission to China by California Gov. Jerry Brown, who noted that his state remains a magnet for venture investors and startup entrepreneurs.

OFFERING A CARROT: Brown just resolved a $27 billion budget deficit and said he's not inclined to offer deep incentives to investors. Instead he touted the $1.9 trillion aggregate income of Californians.