China Aviation Supplies on July 5 signed a $22.8-billion-dollar deal with Airbus for 140 aircraft. The Chinese company ordered 100 A320 and 40 A350 XWB.

The deal was signed in Berlin, Germany, by Airbus CEO Tom Enders and CAS Executive Vice President Sun Bo in the presence of visiting Chinese President Xi Jinping and German Chancellor Angela Merkel.

Enders said that China is currently one of the world’s most important aviation markets.

According to Airbus, the world’s passenger aircraft fleet above 100 seats is set to more than double in the next 20 years to over 40,000 planes as traffic is forecast to grow at 4.4 percent per year.

Airbus says that 1,440 Airbus aircraft were in service in China by the end of May, of which 1,228 are A320 passenger jets.