Boeing (BA) on Wednesday raised its demand outlook for China, including for freight, which could bode well for the country's 澳洲幸运5官方开奖结果体彩网:e-commerce retailers such as Alibaba (BABA), JD.com (JD), and Pinduoduo (PDD).

Boeing Bets On China Fr💞eight, Good News For E-Commerce Plꦚayers?

The plane maker said China will likely need over 8,000 new commercial jets over the next two decades to meet fast-growing domestic travel demand. Of that, about 190 would be freighter commercial planes that Boeing is betting on due to the "growth in e-commerce and express shipping."

E-commerce sales in China could surpass $3.5 trillion next year and near $4 trillion by 2027, according to projections from the International Trade Administration and Insider Intelligence, respectively. By 2026, e-commerce sales could account for a majority of retail sales in China.

Some of China's biggest e-commerce retailers, including Alibaba, JD.com, and Pinduoduo, could stand to gain as they earn most of their revenue domestically. Alibaba, China's biggest e-commerce retailer which operates the popular Taobao and Tmall shopping platforms, accounts for just over half the country's online sales and 澳洲幸运5官方开奖结果体彩网:gets roughly 70% of its revenue from China.

China's Booming Travel Demand

China could account for up to 20% of the world's airplane demand. Along with new jets, China will need more than 400,000 newly-trained aviation personnel—including 134,000 pilots—to meet this demand, Boeing said in a press release.

"Domestic air traffic in China has already surpassed pre-pandemic levels and international traffic is recovering steadily," said Darren Hulst, Boeing's vice president of commercial marketing. "As China's economy and traffic continue to grow, Boeing's complete line-up of commercial jets will play a key role in helping meet that growth sustainably and economically."

Boeing and Alibaba shares were trading flat at 1:00 p.m. ET Wednesday. The plane maker's shares have risen 7% so far this year, while shares of China's biggest e-commerce retailer are down 1% over the same period.

A Silver Lining for China's Economy

Boeing's outlook also offers a glimmer of hope for China's economy amid a growth slowdown.

China's economy has encountered headwinds recently including a property market crash, rising debt, high youth unemployment, a slowdown in global trade, and a looming demographic crisis. It's a stark contrast to decades of soaring economic growth that propelled China into a global manufacturing and economic powerhouse.

Investors have grown more pessimistic on the country's prospects. That's led global investors to reallocate money away from 澳洲幸运5官方开奖结果体彩网:emerging markets—of which China accounts for the biggest share—and toward U.S. equities, according to 澳洲幸运5官方开奖结果体彩网:Bank of America's latest fund ma🍷nager survey.

A spate of U.S. companies have also decided to relocate production away from China closer to home, in a move labeled "澳洲幸运5官方开奖结果体彩网:friendshoring." Even Apple, which has long manufactured its iPhones in China and gets roughly a fifth of its revenue from the country, is now making 澳洲幸运5官方开奖结果体彩网:some of its smartphones in India for the first time, and late last year decided to 澳洲幸运5𒊎官方开奖结果体彩网:move production of MacBooks to Vietnam.