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President Xi's proposals and initiatives injected momentums in international cooperation on the COVID-19 fight, and boosted humanity's confidence of triumphing over the pandemic, Wang said.

In the past few years, the government has further delegated powers, streamlined administration and improved services. As a result, market barriers have been further eliminated, market entities' vitality has been stimulated, and market competition has become fairer.

On the same day, Chinese Vice President Wang Qishan sent a message to Kamala Harris to congratulate her on election as U.S. vice president.

Inclusive loans to small and micro companies surged 30.5 percent year on year to 14.8 trillion yuan at the end of September, while outstanding loans to private firms rose 5.4 trillion yuan from the beginning of the year, an increase of 1.6 trillion yuan from the same period last year, according to the CBIRC.

Noting that 2021 will be an especially important year for China in advancing modernization, the meeting stressed adhering to the new development philosophy and urged efforts to form a new development paradigm as well as focus on advancing high-quality development.