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An official with the commission said only a small number of passengers are Chengdu locals.

Analysts also warned of risks from fiscal deficits and trade frictions with the United States. Fully aware of the challenges, China's policy makers have rolled out a series of measures, reining in credit expansion and curbing overheated home purchases. Debt-ridden zombie companies are being dissolved and home markets are gradually back on track. "Risks are generally controllable," Chinese Premier Li Keqiang said at the Annual Meeting of the New Champions 2017, or Summer Davos, in the city of Dalian. "We are capable of fending off all kinds of risks and ensuring the economic growth stays in a reasonable range."

And not everyone is cheering.

Analysts from Huatai Securities pointed that liquidity condition of listed companies has improved in the first quarter, with nonfinancial companies' cash flow generated from business operations having begun to cover the cash flow needed by investments.

Angeline Goreau