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China is now the world's second-largest civil aviation market. The country handled 660 million air passenger trips in 2019, surging 7.1 percent from the previous year. And the figure is expected to reach 710 million this year, up 7.5 percent year-on-year, according to the administration.

China is Rolls-Royce's fastest-growing market and became its second-largest market after the United States last year, contributing 12 percent of the group's 15 billion pounds (.69 billion) global revenue. Its businesses in China cover the civil aerospace, marine, power systems and civil nuclear sectors.

China hopes that countries that have recently tightened scrutiny of foreign investment will create a fair, transparent and predictable business environment for investors across the world, the Ministry of Commerce said on Thursday.

China is hoping to develop local chip technology following the blocking of several high-profile deals for foreign chip firms in the United States and Europe over national security concerns.

China is toughening supervision on the banking and insurance sector with solid progress made in the first quarter of the year. [Photo/VCG]