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They called for deepening supply-side structural reform, and effective measures to forestall and defuse financial risks to achieve high-quality development of the financial sector.

Xi pointed out the COVID-19 pandemic is accelerating changes unseen in a century, and mankind is standing at a new crossroad faced with multiple common challenges. It is only more imperative for China and the EU, as two major forces, markets and civilizations, to firmly grasp the general trend of mutual support and united cooperation in face of such situations, unswervingly promote the sound and stable development of the China-EU comprehensive strategic partnership, to inject more positive energy into COVID-19 response efforts, economic recovery and championing justice, Xi said.

On top of strict COVID-19 control that had generally stemmed domestic transmission within three months, China has taken a series of measures to protect companies, stabilize employment and expand demand against pandemic shocks, which helped shore up economic fundamentals, said Yan.

As the world economy and politics are facing crucial tests, the first C+C5 foreign ministers' virtual meeting reflects the stable relationship between China and the Central Asian countries, Anri Sharapov, head of the Department of Economics and Politics of China at the Tashkent State Institute of Oriental Studies told Xinhua.

Efforts must be made to build a new modern socialist Tibet that is united, prosperous, culturally advanced, harmonious and beautiful, Xi said.