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China will reduce coal production by at least 150 million tons this year, Premier Li Keqiang said in the Government Work Report at the fifth session of the 12th National People's Congress.

China's VR industry is expected to be worth 54.45 billion yuan ( billion) next year, with an annual growth rate of about 95.2 percent, according to a report from the China Center for Information Industry Development, a research institute affiliated with the ministry.

China's capacity of providing financial services for the SMEs has seen remarkable improvement, with the credit supply constantly increased, financing cost steadily lowered and financial coverage widened.

China's accelerating development of services trade will provide huge market and rich opportunities for cooperation for countries worldwide, and boost global economic recovery as the pandemic has dealt a heavy blow to the world economy, analysts and scholars have said.

China's adherence to a path of peaceful development and its lasting prosperity and development will definitely provide an even stronger impetus for China-Russia ties to make steady steps forward, he said.