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Law-based governance should be promoted under the guidance of scientific theories, Xi said.

Stating that China is still the biggest developing country in the world, Li stressed the fundamental role of development. It will open up at a higher level, establish the new development paradigm, and promote high-quality development, he said.

Aleksey Maslov, acting director of the Institute of Far Eastern Studies in Russia, said the Chinese leader stressed a very important thing -- joint efforts to fight not just the coronavirus, but also different kinds of challenges that face not only China, but also the entire human race.

The implementation of the aforementioned policy tools combined have achieved remarkable results, benefiting over 3.1 million smaller market entities, and playing a positive role in alleviating financial pressure on enterprises, ensuring market entities and securing employment.

It was decided at the meeting that the provisional deferral policy for both principal repayment and interest payment on smaller businesses' inclusive loans will continue to be executed in the first quarter next year, and loan repayment further extended within a proper time frame. Inclusive loans granted to micro and small businesses will be extended as much as possible in line with market principles and upon consultations between enterprises and banks.