The deal was announced after a meeting between German Chancellor Angela Merkel and Chinese Premier Li Keqiang in Beijing.
The contract includes 30 wide-body A330s and 100 narrow-body A320s.
Earlier this year, Airbus agreed to build a new assembly facility in China's northern port of Tianjin.
The company is engaged in a battle with US-based Boeing for dominance in the growing Chinese market.
In August, Boeing said China was expected to add 6,330 new aircraft to its commercial fleet by 2034.
Airbus has headquarters in Germany and France.
China has signed a $17bn (15.5bn euro; Â£11bn) contract to buy 130 aircraft from the European aerospace consortium Airbus.