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Medical supplies to Hubei, Wuhan in particular, and daily necessities of the local people will be ensured, and financial support from the central fiscal will be increased, the meeting said.

Ping An Securities analyst Zhang Ming said the Chinese government has stepped up its de-leveraging campaign to defuse financial risks since 2016, and it will refrain from a massive monetary and credit stimulus package.

The COVID-19 epidemic, a major public health emergency, has spread the fastest, caused the most extensive infections and been the hardest to contain since the founding of the People's Republic of China in 1949, the document said.

Local governments were urged to adopt a targeted approach towards poverty relief, keep anti-poverty policies stable and improve rural weak links in a bid to complete the building of a moderately prosperous society in all respects as scheduled, said the meeting.

The meeting also called for efforts to provide more opportunities for entrepreneurship and the flexible labor market to further stabilize employment.