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China can also plan more forward-looking measures of opening-up, and extend the opening-up via free trade zones in more areas. The growth potential promoted by such reform and opening-up measures will be much greater than the demand driven by simple stimulus policies, and they will be more sustainable and effective. It can not only fill the demand gap caused by the epidemic, but also provide long-term growth momentum.

China has established 18 free trade zones across the country to experiment with new regulations and explore ways to improve the business environment that would later be replicated nationwide.

China had almost 100 million poor farmers in 2012, when the central government renewed its push for a poverty-free society by the end of 2020.

China has been making efforts to shift its economy toward a growth model driven by consumption, services and innovation. The government has taken steps to promote service trade, and gradually open up sectors including finance, education and culture. In June, the State Council launched a pilot program in several municipalities and provinces to provide more flexible rules to boost service trade.

China has placed great emphasis on tech development, with AI a key area. The government has laid out plans to become the world AI leader by 2030, with the aim of making the industry worth 1 trillion yuan (5 billion).