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Commercial Aircraft Corporation of China (COMAC) holds some cards up its sleeve. Its plane has Western engines and avionics coupled with a new design, it's rolling out a pilot training program and expanding international staff, industry executives say.

Collaborative innovation platforms will be established to encourage the industry-university-research cooperation among enterprises, universities, hospitals and institutes, the bureau said.

Compared with previous transformational stages in information technology, China is riding the current AI wave at a fast speed, with chips being the critical technology to promote such development, said Yin Shouyi, an associate professor of microelectronics at Tsinghua University.

Combined, China and Japan hold more than one third of the total foreign holdings of US Treasuries.

Companies should focus on opportunities afforded by the dynamic Chinese market, instead of thinking about taking protectionist moves, Bouee added.