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Airbus this week announced an agreement with China's state-owned aviation holding company for the purchase of 140 jetliners.

The deal, signed during Chinese President Xi Jinping's visit to Berlin, includes 100 A320 aircraft and 40 A350 aircraft, which will be allocated to airlines by China Aviation Supplies Holding Co.

Officials from the French aerospace giant said the jetliners will serve low-cost, domestic, regional and long-haul international flights. Reuters reported that the deal would be worth nearly $23 billion at list prices.

"This is a great endorsement for our leading products in both single aisle and wide body segments," Airbus CEO Tom Enders said in a statement.

Airbus and U.S. rival Boeing continue to vie for position in the Chinese aviation market, which is expected to help fuel rising global demand for passenger planes in coming decades. Company officials said that the number of aircraft with capacities of more than 100 seats is expected to double in the next 20 years.

“China is today one of the world’s most important markets for aviation, and we are honored to support the development and rapid growth of China’s civil aviation with our competitive product portfolio," Enders said.

Airbus currently provides more than 1,400 aircraft for Chinese airlines, with most in the A320 family.

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