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China will ramp up resources to accelerate the approval process for C919, the country's first large domestic passenger plane, to obtain an airworthiness certificate, which may require thousands of test flight hours, the industrial regulator and the aircraft's maker said.

China's Belt and Road Initiative will create new opportunities for the asset management industry in the Asia-Pacific region in the next few years, a new industry report said.

China will pour more investment into countries and regions related to the Belt and Road Initiative to boost international cooperation in production capacity, a senior official with the nation's top economic planning body said on Friday.

China will phase out the equity cap on automotive joint ventures by 2022, with the cap on manufacturers of new energy vehicles and special-use vehicles to be removed later this year, according to the National Development and Reform Commission.The commission reported the cap will be removed for commercial car producers in 2020 and passenger car producers in 2022. International carmakers will be allowed to have more than two joint ventures as well.

China will deepen international energy cooperation and push ahead with major projects as the country works with others in promoting the Belt and Road Initiative, Han said.