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"China is the second-largest overseas market of Air France KLM and the largest in Asia. We are delighted and honored to resume our passenger flights to China, which marks a big step in rebuilding our global network," said Toon Balm, general manager of Air France KLM Greater China.

"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"China and the US should of course avoid recriminations and aim for cooperation," Sachs said. "This is the only safe and rational way out of the current crisis."

"China has always put development at the center of its work. And we commit to mobilize engagement in all social sectors in poverty reduction," he said, adding that China benefits greatly from those approaches.

"China is obviously an important regional and world power, we work closely with China on issues related to North Korea, on issues related to trade and many other issues as well," Nauert told a briefing at the Washington Foreign Press Center.