Four Chinese airlines signed a purchasing contract Monday for 42 Boeing 787 aircraft worth US$5.04 billion.

Air China has contracted to buy 15 planes, China Eastern 15, Shanghai Airlines nine, and Xiamen Airlines three.

The contracts are an important first step to introducing the new model aircraft, the 787 Dreamliner, and show good promise for future bilateral economic and trade cooperation between Chinese and American companies, said Zhang Xiaoqiang, vice minister of the National Development and Reform Commission (NDRC).

Zhang said that China is the world's largest developing nation and its economic growth calls for a correspondingly rapid aviation growth. Last year, China's passenger volume reached 36 percent growth, and will remain a two-digit growth over the next few years.

US-based Boeing says it expects China's airlines to spend US$183 billion on aircraft over the next two decades as its 1.3 billion increasingly prosperous citizens take to air travel.

In January, six Chinese airlines signed an agreement with Boeing for 60 of its new fuel-efficient 787 Dreamliners for US$7.2 billion.

Over the next few years, China will continue to be a launching pad for more aircraft, Li Jun, vice director of the General Administration of Civil Aviation of China, said.     

Two and a half years ago, Boeing presented Chinese airlines with a proposal for them to help design and launch a revolutionary, technologically advanced, fuel-efficient jet airplane. Estimated for completion in early 2008, the airplane will feature outstanding passenger appeal and operating economics, ideal for point-to-point passengers.

(Xinhua News Agency August 9, 2005)