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The last point was the "insufficient recognition that there is not a lot of downside for China in getting stuck into Australia."

To contain the virus and restore the economy, China's central leadership took resolute actions to stamp out the spread of the virus and introduced policies to stimulate growth; businesses employed adaptive tactics to survive the crisis; and the public united to observe health protocols. These actions were all indispensable to the country's hard-won gains.

Securitization is the process of transforming illiquid assets, including outstanding loans and receivables, into securities, which frees up idle assets in the banking system.

As a Chinese poem reads, “Past a fallen ship, one thousand sail onward; for a sick tree, ten thousand thrive by spring.” I believe that when COVID-19 is over, our world will rise from the pandemic and emerge even stronger. In that spirit, let us join hands to deliver a better life for our people and build a community with a shared future for mankind.

Li Zhanshu, chairman of the National People's Congress Standing Committee, holds talks with the Republic of Korea National Assembly Speaker Park Byeong-seug via video link at the Great Hall of the People in Beijing, capital of China, Dec. 21, 2020. (Xinhua/Zhang Ling)