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China's fiscal spending expanded 8.8 percent year-on-year to around 15.31 trillion yuan during the January-August period, MOF data showed.

China's leverage ratio stood at 255.6 percent at the end of the third quarter of 2016, lower than the average of major developed countries, the National Development and Reform Commission (NDRC) said in a statement, citing data released by the Bank for International Settlements (BIS).

China's homegrown C919 passenger plane completed its first public test flight earlier this month, and US aviation experts say that eventually the narrow-body jet could compete with the updated Airbus 320 and Boeing's new generation of 737 planes.

China's early authorization of the annual bond quota for regional and local governments (RLG) is projected to improve debt management and encourage growth.

China's economy bounced back to growth in the second quarter this year. Macro policies, including tax and employment-oriented policies, have rendered effective support to economic recovery, Guo said, adding monetary and fiscal policy also played an important role.