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China's newly-introduced tax cuts and fee reductions have saved businesses 1.17 trillion yuan in the first half of this year, the STA said. The private sector has gained the most from the reforms, with 671.2 billion yuan of taxes reduced during the first six months.

China's efforts to promote "opening up" are expected to generate more demand for accounting talent as such moves will create a cross-border flow of professionals, according to the CEO of a global accountant association.

China's first domestically produced single-aisle passenger jet, the C919, is expected to take to the sky for its maiden flight on Friday, as the country endeavors to meet soaring domestic travel demand and break the global market duopoly of Boeing Co and Airbus Group SE.

China's current account surplus was 1.549 percent of GDP in the first quarter of this year, after having fallen to a deficit of 1.095 percent of GDP in the same period last year. This roughly balanced global current account is further evidence that the value of the yuan is at the level that would be determined by markets.

China's monetary authority plans to keep its prudent and neutral stance unchanged, despite the recent fine-tuning of the country's monetary policy, central bank officials said.