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Analysts say commercial space activity could help lower costs and increase the efficiency of space activities, and accelerate technology development.

Analysts said government support for entrepreneurship and innovation has provided a major boost for tech firms and startups and allowed them to survive and thrive amid downward pressures on the broader economy. The performance of listed companies is considered a leading indicator of China's economy, which expanded steadily at 6.7 percent year-on-year in the first three quarters, well above the 6.5-percent annual target.

And Yu contended that the initiative is not an attempt by China to exert its economic and political influence globally.

Analysts at Cowan Group, a New York investment bank, estimate that about half of the world's aircraft fleet is grounded.

And all countries, he said, need to guard against the risks of drastic adjustments of asset prices. Could China's corporate sector, which has a relatively higher leverage level, spark the next financial crisis after the GFC a decade ago?