Beijing, Oct 26 (DPA) China Thursday signed an agreement to buy 150 Airbus A320 passenger planes to be produced and delivered between 2009-12, an Airbus executive said.

A "fair share" of the A320s will be produced at a new Airbus assembly plant in the northern city of Tianjin, the executive said.

The two sides also signed a letter of intent on the purchase of 20 Airbus A350s.

The agreements were signed after talks Thursday between French President Jacques Chirac and Chinese President Hu Jintao.

The value of the agreements was not disclosed, but the current list price of 150 Airbus A320s is about $10 billion.

Last December, several Chinese airlines jointly agreed to purchase another 150 medium-range Airbus aircraft.

Chinese airlines are forecast to spend $280 billion on about 2,900 new planes in the next 20 years, state media Wednesday quoted a report by Boeing as saying.

The new purchases would take the total number of passenger and cargo planes in China to about 3,900 in 2025, the report said.