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"During the most severe period of COVID-19 in the first quarter and after the Chinese New Year, the top three airlines lost about 100 million yuan each per day. But since the second quarter, things have improved thanks to the effective measures to contain the contagion in China," said Chen Zhuo, a senior analyst with China Merchants Securities.

"Even though these problems have been resolved within a short period, backed by the country's strengths in manufacturing and technology, there is still room for improvement in this area."

"Few other countries have a transparency index for foundations such as China," he said.

"Digitalization can help us develop and strengthen those capabilities," Li said.

"Domestic brands have the ability to compete with foreign brands, which was difficult in the past," said Gao Guohua, chairman of State Development & Investment Corp Ltd.