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China's commercial banks will continually increase lending to small businesses with sound tax payment records to ease shocks from the coronavirus pandemic, the country's tax authorities and bank regulators said on Wednesday.

China's hosting of a 17+1 cooperation summit in the first half of 2020, Wang said, testifies to the great importance Beijing attaches to the mechanism, and responds to the common wishes of the 17 European nations to further lift the level of cooperation.

China's homegrown brands are gaining in popularity among domestic consumers due to lower prices and rising cultural self-confidence, a survey from Nielsen showed.

China's housing market reached 22.3 trillion yuan (about .2 trillion) in 2019 and is expected to grow to 30.7 trillion yuan by 2024, according to the prospectus, citing an industry report.

China's expertise, especially China's experience in successfully carrying out national reforms, is very needed worldwide, he said.