Israel and China signed a $180 million contract today under which Israel Aircraft Industries will sell China two communications satellites. The satellites will assist in the broadcast of the Beijing Olympics six years from now. Communications Minister Reuven Rivlin signed the deal for Israel. Government officials said that the agreement is a sign of positive relations between the two countries, despite Israel\'s cancellation of the Phalcon surveillance jet contract 18 months ago. Israel is expected to have to pay China hundreds of millions of dollars in fines in lieu of the called-off deal, a result of heavy pressure from the Clinton Administration. It appears likely, however, that Israel will be able to sell the jets to India.