The purchase is envisioned as a component of a more expansive trade deal if the world’s two largest economies can reach an agreement in the next few months.

Boeing negotiates major aircraft sale to China amid leadership changes, with the deal representing China's first major Boeing purchase since Trump's previous presidency.

China will need an estimated 8,800-plus planes over the next 20 years to meet rising demand for air travel, according to Boeing’s commercial- market outlook. About 60% of that demand would come from airlines expanding their fleets, while airlines replacing older jets with more fuel-efficient models would account for the rest.