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China's economic fundamentals, he said, are sound and its financial risks are generally controllable. "The Chinese economy has entered a phase of high-quality development, with a stable international balance of payment and generally balanced cross-border capital flow."

China's news release system must better adapt to the development of new media to further increase its efficiency and impact in getting its message across to domestic and international audiences on the key issues that concern them, spokespersons of different government organs and State-owned enterprises said on Sunday.

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 drone manufacturing industry has expanded rapidly in recent years thanks to their extensive use in surveying and mapping. E-commerce giants Alibaba and JD.com also using drone deliveries.

China's current reform measures have placed particular stress on promoting innovation and entrepreneurship.