Boeing has high hopes for China

Boeing Co said China is the world's fastest-growing market for long-haul flights, boosted by robust demand for business and leisure air travel and the growing number of middle-income consumers.

The US aircraft manufacturer has boosted its forecast for China, saying that over the next 20 years, the nation will need 7,690 new airplanes, according to a news release issued by Boeing in Beijing on Tuesday.

Over the next two decades, China is expected to remain the world's only trillion-dollar airplane market, which will be valued at $1.2 trillion. The nation's air passenger traffic volume is expected to grow at an average annual rate of 6.2 percent, Boeing said.