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China will accelerate developing laws and regulations governing the financial sector, improve macro prudential management and emphasize functional as well as behavioral regulation, according to Xi.

China voted for the draft resolution. Zhang Jun, China's permanent representative to the UN, said in his explanatory remarks that China has been supportive of the secretary-general's appeal for a global cease-fire and the Global Humanitarian Response Plan from the outset and voiced its support on various occasions.

China reduced taxes and fees by 2.36 trillion yuan in 2019, beyond the annual target of 2 trillion yuan, with manufacturing and micro and small businesses being the major beneficiaries. This year, the target is to make further tax and fee cuts of about 500 billion yuan, according to the Government Work Report for 2020.

China sold 1.2 million new energy vehicles in 2019 and this is expected to hit 15 million units by 2030.

China said on Wednesday that Nauru's obstruction of a Chinese delegation to a meeting during the Pacific Islands Forum violated international norms and the rules of the forum, calling it a "clumsy farce".