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China's campaign to eliminate overcapacity has started to pay dividends and that will contribute a lot to the country's economic improvement, said Erik Lundh, a senior economist at The Conference Board.

China will strengthen the management of local government bonds issuance and make price-setting more market-oriented, China Securities Journal reported Wednesday.

China will not change its determination to deepen strategic cooperation with Saudi Arabia no matter how the global and regional situation changes, President Xi Jinping said on Thursday in a phone conversation with Saudi Arabia's King Salman bin Abdul-Aziz.

China will invest more to upgrade the country's infrastructure projects in such fields as charging piles, ultra-high-voltage grids and intercity transit systems, with a firm goal of sustaining economic growth amid the novel coronavirus epidemic.

China will increasingly rely on endogenous innovation to spur economic development in the future, a process that needs risk takers from private businesses, while state firms, always slower and more cautious in decision-making, are relatively less vigorous and not that willing to take risks, Fan said.