China will require 3,400 new airplanes worth about US$340 billion over the next 20 years, US aircraft giant Boeing said on Tuesday.

Continued strong growth in passenger and cargo transport, China's fleet will nearly quadruple to 4,460 airplanes by the end of 2026, making it the largest market outside of the US for new commercial airplanes, it said.

Following the anticipated surge in passenger traffic for the 2008 Beijing Olympic Games, China's domestic market will grow to nearly a five-fold size by 2026 to become slightly larger than today's intra-North American market, it said.

Air travel growth between China and North America as well as between China and Europe will more than double in size during the next 20 years.

(Xinhua News Agency September 19, 2007)