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"China's manufacturing industry has maintained stable and rising growth momentum," said Zhao Qinghe, a senior statistician, in a statement published on the website of the NBS.

"Clearly the first swap is a small amount, compared with the potential issuance of perpetual bonds that could be more than 1.08 trillion yuan as we estimated," said Jiang Chao, an economist with Haitong Securities, an A-share listed brokerage. "That could support credit growth of 6.82 trillion yuan."

"Cruise travel during the summer holiday has always been popular, and to date, we have already seen more than 50 percent growth in reservations compared with the annual average," said Liu Xiaolyu, head of the cruise division at Ctrip, China's biggest online travel agency.

"China's regional aviation market is still in its initial stage of development. Most plateau airports globally are located in western China, and China is a great market with rich opportunities for the growth of the regional aviation sector," said Li Guijin, a professor at the Civil Aviation Management Institute of China.

"China's GDP growth in the first quarter of 2017 was 6.9 percent, and our growth in the first quarter was 37 percent," said Zetsche. "None of these numbers make me pessimistic."