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"China's economy is also at a crossroads. We could get either sustained growth or massive risks breaking out," Chen said.

"Currently, we are preparing to apply for more airworthiness certifications from the US and Europe, as well as in other nations and regions. Meantime, we will also apply for approvals of the world's major aircraft makers for original installation in aircraft of Airbus, Boeing and COMAC (Commercial Aircraft Corporation of China)," said Sheng.

"China's foreign exchange reserves are expected to remain stable after assessing influences of both internal and external factors, although the global financial market will face uncertainties amid the continued economic recovery," said the regulator.

"Coastal cities and central cities are ideally more open, " he added.

"China's capital reform efforts are market-oriented, rules-based and more compatible with international standards. As the Chinese stock market grows rapidly, the acceleration of the reforms will help boost the market's global profile and enable it to better serve the economy," Li said.