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Analysts said at least 45 days will be needed to prepare grounded planes for service. If recertification is staggered, as now appears likely, MAX jets could be grounded for about a year in some parts of the world.

Analysts said the move by Goldman Sachs showed that foreign banks remain bullish about the prospects of their business in China as further financial liberalization is expected to bring more business opportunities.

Analysts said cooperation among China Eastern, Air France-KLM and Delta will broaden their growth potential in the fast-growing travel markets in China, Europe and the US.

And it is a pretext, as freedom of navigation in the South China Sea has never been a problem. Hundreds of thousands of commercial ships pass through the strategic waterway each year transporting an estimated trillion worth of goods. Not a single one has found its freedom of navigation compromised.

Analysts said China is now transforming from the phase of rapid development to a new stage of high-quality development and shifting its focus to nurturing technological innovation and further opening up its economy.