China's Donghai Airlines has announced that it plans to purchase 30 Boeing aircraft worth over $4 billion at list prices, the plane manufacturer said on Monday.

The purchase agreement will be composed of 25 Boeing 737 MAX 8 narrow body planes and five units of the 787-9 wide body aircraft, according to the deal announced at the 2016 Farnborough International Airshow, Fox News reported.

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"Donghai Airlines has undergone steady development over the past 10 years since the beginning of our freighter operations in 2006," Wong Cho-Bau, the airline's CEO, said. "Under China's One Belt One Road initiative, we will accelerate our fleet expansion plan to satisfy the rapidly growing air travel market and help build our home base Shenzhen as the transportation hub in southern China."

The Shenzhen-based company also plans to shift its business models from cargo services to passenger services, according to Reuters. It has already ordered 15 Next-Generation 737-800s and 10 re-engined and upgraded 737 MAX 8s variant in 2013 as it pushed its commitment to introduce "new next-generation airplanes that deliver the industry-leading fuel efficiency and passenger comfort."

Boeing would be working with Donghai Airlines to finalize the details of the said agreement, and the order will be posted on Boeing's Orders & Deliveries website once all contingencies are cleared, according to Boeing Media Room.

Meanwhile, Boeing's CEO and President Dennis Muilenburg said "We are honored by Donghai Airline's reaffirmation of the 737 MAX, and we look forward to welcoming Donghai as our new 787 customer," adding that the new aircrafts would give the Chinese company "added efficiency, operating economics and passenger comfort for their business growth domestically and internationally."

Currently, Donghai Airlines has 11 Boeing 737-800s flying passengers to more than 10 Chinese cities.

TagsDonghai Airlines, Boeing, 2016 Farnborough International Airshow, airline industry