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"China is a huge market and the indigenous providers will be far stronger than any new entrants could be for many years to come."

"China has gained useful and effective know-how on economic governance and a better understanding of the roles of the government and market in resource allocation. It is time to institutionalize successful past experiences to enrich the country's governance capacity and to ensure high-quality development," Xue said.

"China has always been a pivotal market for us. We look forward to bringing our well-established global leasing services and platform to China to reinvigorate our presence in the market and help drive the growth of its quickly accelerating aviation sector," said Peter Chang, CEO of CDB Aviation, which is now based in Ireland and whose main line of business is global aviation leasing.

"China and Panama have a historic responsibility to champion free trade or free access to the markets," he stressed.

"By the end of 2017, all central SOEs, except financial and cultural ones, will be registered as limited liability companies or joint-equity corporations in accordance with the Company Law, which will accelerate the establishment of an effective and balanced corporate governance structure, based on their legal person status, as well as a flexible and efficient marketized management mechanism," the plan said.