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China's economy is running stable but is confronting with a complex situation, according to the statement.

China's financial risks have been slowly resolved although some risks still exist, after accumulating rapidly in the past few years, the People's Bank of China, the central bank, said in its annual financial stability report.

China's major steps in reviving the economy include the following: 1) Large monetary stimulus has been used, but with emphasis on limiting the increase in private or public debts. 2) Fiscal stimulus has focused on infrastructure programs that can get people back to work. 3) SMEs have been given special access to loans and their taxes have been cut. 4) Local officials have been charged with opening up businesses if and only if their region has contained the virus. The Chinese government's fine-grained information about local economies allows it to make such localized decisions, while many Western countries will have to use blunter macroeconomic policies. 5) Supply chains are being restored as factories coordinate restoring production. 6) China will continue its long-term plans pushing more market-oriented reforms and international opening up. And 7), as noted above, policies have prioritized restoring jobs and protecting poor people.

China's gaming market has entered a stage of in-depth development, and female users are becoming an increasingly important consumer group in that market, which has bolstered the growth of esports in China.

China's expertise, especially China's experience in successfully carrying out national reforms, is very needed worldwide, he said.