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With the implementation of these measures, there will be more foreign-funded projects in China as foreign investment will see an optimized environment, Meng said.

"While ensuring effective outbreak response, a category-based approach should be adopted in resuming production in an orderly manner," Li said.

The meeting stressed improving the country's emergency management system and capacity of handling urgent, difficult, dangerous and important tasks.

According to the Ministry of Finance, China has allocated 27.3 billion yuan (about 3.94 billion U.S. dollars) to support the battle across the country as of Jan. 29.

Since the novel coronavirus outbreak, residents have rushed to buy masks. However, shelves in physical stores are empty, and it is becoming increasingly difficult to buy masks online. Hospitals in the hardest-hit city of Wuhan in central China's Hubei Province are also in urgent need of medical materials.