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China has around 90 million private businesses, which are key to boosting development and increasing jobs, Li said. According to the State Administration for Market Regulation, China has 110 million market entities, including 34.74 million enterprises. Last year, 6.7 million new enterprises were registered.

China has launched targeted measures to support the micro-, small-and medium-sized enterprises, which have good business prospects but cannot repay loans that are due between Jan 25 and June 30 in a timely manner because of temporary difficulties amid the novel coronavirus outbreak. The country's top banking and insurance regulator has allowed them to apply for extended repayment plans, and the deadline has been extended till June 30.

China has almost addressed all the fiscal irregularities from 2018 identified in an audit report, according to the country's top auditor. Such rectifications involved about 310 billion yuan (.33 billion), said Hu Zejun, head of the National Audit Office. Many local governments have rolled out measures to push forward related rectifications, and different departments have enhanced coordination to improve rectification efficiency, Hu said. The NAO would continue to follow up on the rectification progress, Hu said.

China has continued to seek greater synergy between the domestic and global economies in 2020, rather than lapsing into de-globalization or an economic decoupling.

China has at least 1.6 million new energy cars on its roads, said Wang, citing statistics from the China Association of Automobile Manufacturers, the country overtaking the United States in 2015 as the world's largest market for such vehicles.