In newly approved airport construction plans by the CAAC, the designed annual collective cargo capacity of Kunming, Yunnan province, Xiamen, Fujian province, and Chongqing airports will exceed 1 million tons.

The newly opened Beijing Daxing International Airport is expected to handle more than 2 million tons of air cargo by 2025. And major air hubs in Shanghai and Guangzhou will also gain increased air cargo throughput capacity.

SF Express has also invested heavily in constructing an international logistics hub in E'zhou, Central China's Hubei province. With a cargo-focused airport in the hub, the Chinese express delivery giant will strengthen its worldwide air express delivery system.

"Intensive moves of corporate giants in the Chinese air cargo market are driven by market potential. China's huge consumption market and unleashed spending power will drive the air cargo industry into a new round of development," Zhu said.

In October 2019, Guangzhou Aircraft Maintenance Engineering Co Ltd, or GAMECO, and Boeing announced a plan to launch a 737-800 Boeing Converted Freighter production line at GAMECO's Guangzhou Baiyun International Airport hangar.

China's rapidly growing e-commerce and express delivery market will make air cargo a key growth driver. Over the next 20 years, the Chinese market is expected to have demand for 230 new freighters and 500 converted freighters, said Boeing's latest market forecast.

"Air France-KLM Cargo greatly values the potential of China's air cargo market. We will continue to consolidate a foothold in the market through a prudent and judicious approach," said Rahul Pathak, head of Air France-KLM Cargo China.

"There is no other better place in the world than China where digital content and usage are embraced and welcomed. We have provided Chinese customers with a suite of 365-day, round-the-clock services on the digital platforms," he said.

Moreover, the airline has recently introduced a data platform specially designed for small－and medium-sized enterprises, enabling them to stay responsive to market changes swiftly and flexibly.

"China's air cargo market is embracing greater opportunities and challenges alongside the advance of the Belt and Road Initiative and higher demands in the global logistics system from all sectors," Li of SF Airlines said.

"It is a major opportunity for our domestic enterprises and also new business chances for global peers."

The writer is a reporter with Xinhua News Agency.