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China will improve the supply chain of agricultural products in a bid to increase farmers' income, the Ministry of Finance said in a statement on May 14.

China's central bank is determined to maintain a prudent monetary policy stance, but it can be slightly adjusted according to changes in economic growth and price levels, to prevent "the divergence of inflation expectation," according to its quarterly issued report on Saturday.

China's central bank supported a new action plan by G20 finance ministers and central bank governors to help small and medium-sized enterprises hit by the coronavirus pandemic, a statement said on Wednesday.

China's Commerce Ministry has responded to the latest move by urging the United States not to insist on unilateralist and protectionist trade practices in disregard of the opposition from China and the international community, warning it that China will not hesitate to fight back at any cost and it is willing to "follow through to the end".

China will significantly boost the share of direct financing in its financial system, especially equity financing, the sources said.