Meanwhile, one expert suggested that investors are misunderstanding China's intent in providing the stimulus boosts. According to Arthur Kroeber, founding partner of Gavekal Dragonomics, Beijing's intent isn't to accelerate the economy by enabling consumers, but simply to stabilize it.

Investors and analysts are expecting China to deploy as much as 2 trillion yuan ($283 billion) in fresh fiscal stimulus as Beijing seeks to shore up the world’s No. 2 economy and boost confidence.

China’s policymakers disappointed investors this week with a lack of follow-through on recent monetary policy stimulus measures. They get a second chance this weekend.

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.