Zhejiang Loong Airlines signed a memorandum of understanding to secure an order of 20 Airbus A320 planes and is scheduled to begin operations later this year.
Airbus said it received an additional order of 23 aircraft from Qingdao Airlines, totaling 43 A320s.
The deliveries are expected to begin in 2016, pending approval from the Chinese government.
Zhejiang Loong's order was for regular 11 A320s and nine re-engined A320neo. The new airline is based in Hangzhou, Zhejiang province.
Qingdao Airlines made its deal for five A320s and 18 of the new A320neo. The airline, based in the coastal city of Qingdao in Shandong Province, is scheduled to begin operations in 2014, using leased planes.