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"Chinese policymakers will have to be ready to support growth and financial stability if needed. Given the global nature of the outbreak, many of these efforts will be most effective if coordinated internationally," said Helge Berger, assistant director of the IMF's Asia and Pacific Department.

"China's civil aviation development has two important driving forces－opening more international airlines, which cannot be replaced by high-speed rail, and building more small and medium-sized regional airports in the southwest and northwest," said Li Xiaojin, a professor of aviation economics at Civil Aviation University in Tianjin.

"Chinese consumers also favor more high-end baijiu given upgrades in consumption, which has helped increased companies' profits," the report added.

"China's growth model, despite foreseeable headwinds, has been evolving constantly, including further opening up in attracting international capital and deepening financial market reforms," she said. "We expect China to adapt to current challenges and stabilize growth with corresponding policy supports."

"Chinese bearing companies should have the confidence in producing high- and middle-end products."