Jason Bedford, former China analyst at Bridgewater and UBS, pointed to Lan's pledge to recapitalise big state banks as indicating authorities expect to see a revival in demand for credit. "But the only way the economy needs more credit is if you create credit demand which can only be done if you provide fiscal (support)."

Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors sought to profit from a blistering rally, which was dampened by the lack of powerful stimulus measures to revive the economy.

Investors and analysts expect China to unveil billions of dollars in new stimulus for its troubled economy Saturday as officials battle multiple headwinds including a prolonged housing crisis and slug

Investors are on tenterhooks as Beijing prepares to deliver fresh policies to boost its economy. China's top state planner underwhelmed investors by announcing smaller-than-expected actions earlier this week,

China stocks opened down on Friday, as investors cautiously await further policy announcements from a finance ministry press conference scheduled on Saturday. The Hong Kong market was closed for a holiday.